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Apr 2, 2020
4:17:50pm
Hoopster All-American
We're hanging in there. So far everyone is just working from home and our
productivity has actual been equal to, and in some cases superior to, the office environment. No one has been laid off.

We are a medium-sized company with a little less than 400 employees; most in Utah, but, we have a few in California, Ohio and Germany as well.

We have thousands of customers and, so far, have lost enough that monthly revenues will fall by ~$120,000 ($1.44 million annually). It's a dent, but with annual revenues over $50 million, we can weather that without layoffs. We will go to salary reductions, before layoffs, if necessary.

We anticipate that revenue losses will accelerate if the stay-at-home/lockdown mandates (depending on where you are) continue for a couple of months. Fortunately, our customer base is diverse enough that the majority are still in business.

Who knows what things will look like months from now? Interesting times indeed and how quickly things change. Red-hot economy in January, fear of 25-35% unemployment in early April.
Hoopster
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Hoopster
Joined
Apr 1, 2004
Last login
May 5, 2024
Total posts
12,804 (620 FO)
Related Threads Children:
POLL: If you were a business owner/exec, would you rather cut the salaries of all staff or have layoffs? (Odysseus, Apr 2, 2020 at 4:26pm)

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