70% of businesses announce staff cuts – Survey / Companies are unable to pay salaries and taxes
Over 70% of businesses in the country warn of employee layoffs, and most say they can resist for a maximum of a month and then be forced to resign, shutting down if no solution is found with government assistance.
These are the results of a survey conducted by the Union of Albanian Producers on the effects that the Covid-19 pandemic is having on the economy and especially on the manufacturing enterprise. In this survey participated about 100 enterprises where about 73% of them have export activity, 27% of them are VIP businesses, 45% are big business and 28% are medium business.
According to the survey, enterprises have reported a problem with the supply of high-quality raw materials from imports, declining orders from partners, which has led to a contraction in sales and revenue. This situation has created liquidity problems, creating inability to pay both obligations to the state and the payment of salaries to employees.
Meanwhile, about 61% of firms reported that in March sales fell more than 50% while 5% reported no sales at all (ie a 100% drop). Also, expectations are more pessimistic for April where 21% of respondents said they do not expect to have any sales during this month.
SCAN
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