Quote:
Originally Posted by blake5676
Personally, I haven't let anyone go. But I have a very small staff and I'm also a hoarder and don't live month to month with the company bank balance. I have some cushion as well as a decent amount to still bill in the next few weeks.
It's gonna be much more noticeable to me in the summer when I see the lack of money coming in from being so damn slow for the past 2-3 weeks and continuing. I won't go broke if the PPP doesn't work out for me, but it'd sure help cover some of the losses.
There's another strange thing I've wondered, and I could be totally reading things wrong and haven't done the due diligence researching. I didn't lay off employees because I do have some cushion and their situations are certainly more in limbo than mine....but I wonder if it wouldn't actually help in the long run if I did. From the little I've read, they'd be making a decent amount more on unemployment right now (accounting for the extra $600 from fed) than what their weekly paychecks are from me. Seems like a pretty backwards way of incentivizing employers and employees from each taking advantage of the system, no?
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Good to read that you are set for the immediate future!
If you lay them off, what guarantee that you have that they will come back to you? $600/week is for 4 months only.
We have not laid off anyone and stated to them that we are family and we will work through it. A lot of companies can't afford to do that and I respect that. We are in a position where we can.