“There are only three options: cut workers, transfer them to part-time or just to cut salaries, lists of Warsaw. – In the first case, people will remain without money, the third for the same, and even more work will receive a reduced reward. The second option has the advantage – when the download of the company will resume, the entire staff will be on site and to increase the output volume will be relatively easy.”
the Drawdown in the volume of output predicted and world experts. The international labour organization in its study, says that in the II quarter of this year worldwide will be released to 6.7% of the time. This is equivalent to 195 million labor workers full-time.
Experts note: equivalent does not mean equal. Instead of firing people it will reduce working hours and thereby cut down the income. The consequence would be a drop in demand. And then the circle closes: the less money consumers have, the lower the income of producers, there is no reason to increase wages and, therefore, reduced tax revenues and so on.
According to analysts of McKinsey, if the restrictive measures taken due to СОVID-19 all over the world, will be able to shoot for two or three months, unemployment in Europe will rise to 7.6% and the return to pre-crisis parameters of the economy will take a year and a half. If the quarantine period will last longer, the unemployment rate will reach 11.2%, and the recovery will take four years.
the Ministry failed to promptly comment on “RG”, how these processes manifest themselves in Russia.
“working time Reduction is administrative leave with pay 2/3 of the net salary – adds Warsaw. – It is very important to find ways to increase the income of people during the downtime. The money back into the economy and help it recover”.
Another issue, combined with the reduction of working time, the drop in productivity continuing to work. In Russia it is 54%, according to the international Association of professionals in Finance and accounting with ACCA. In the world the figure is even higher – 59%.
