Tag Archives: global economy

How the Coronavirus Pandemic Is Affecting a Business Sphere

The main topic at the beginning of 2020 was the new coronavirus infection COVID-19. The virus has put the global economy on the brink of crisis, and it may be the most serious in a century. 

Hopes for a quick recovery of the planet are melting every day, and the bill for treatment is growing up. The virus has already cost the world tens of billions of dollars, and this is just the beginning.

The impending economic downturn may prove more destructive for the well-being of the world’s population than the financial collapse of a decade ago because this time the problems are wider and deeper.

Businesses are already giving the alarm. It is clear because of the first cries for help that this is not only a loss of income. Millions of people will lose their jobs, thousands of companies will go bankrupt. 

The authorities are faced with a difficult choice: to support the business now or the unemployed later, and even in conditions when there is less and less money in the treasury due to a reduction in tax revenues.

The economic crisis is already near. Businesses are going to simply close, one after another. All who can, gradually switch to remote work. It becomes an important task for employers to leave only those people who do their job well and say goodbye to the rest. 

When there is a choice between leaving the team as a whole, in which not all employees 100 percent do their job or hiring new, but good specialists with the same salary, the choice is obvious.

Therefore, it’s time to show the effectiveness and value for the company, because you may be the one who will have to survive in these difficult times without work, and look for something new in a hasty manner. 

Adapt or die.