Consider These 10 Adjustments Before Making Payroll Cuts | Best Company
Consider These 10 Adjustments Before Making Payroll Cuts - Best Company
The economic impact of COVID-19 and related stay-at-home orders has reached nearly unbelievable proportions. As of April 10, 31 percent of Americans were furloughed or had lost their job because of virus-related events, according to a survey by Freedom Debt Relief.
But many businesses are hoping they can hang on to their employees until they can secure Paycheck Protection Program (PPP) funds to temporarily cover payroll costs or the economy reopens to begin the long process of recovery.
To business owners looking for every possible place to cut costs and preserve cash before initiating layoffs, there are several budget adjustments to consider.
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"This establishment has not received any award, per se but has been recognized in a documentary, "The Lost Arcade" that can be viewed on-line. Referenced as "New York City's last great arcade", the documentary focuses on how the arcade became an 'essential crossroad for New York City gamers' under then owner, Sam Palmer, a Pakistani immigrant who bought the place in 1982. The arcade is now under the leadership of new owner, and our member, Lonnie Sobel. IMS is glad to have this establishment entering their 6th year of membership!"