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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"Let this letter serve as our commitment to provide product to you ongoing, at least in the six figure range per annum. We have been pleasantly surprised at the range of products and services available to us. Having things available, however is only one component in your Industry, and the other is the professional attitude and care that the broker allocates to accounts. You have been the very best, always a good attitude, good times or bad and that is important to us. We recently had cause to pick up product in St. Louis, MO and your office was able provide trucking storage, forklift, driver, labor, accommodations, food and even a mechanic on trade, what a savings. Donna, thank you very much for your many considerations and may we be blessed to do business with you in the years to come. Best Regards, T.A. Shanklin Sr. Managing Member "