SINGAPORE: Against a backdrop of about 18,589 deaths and 415,000 infections, the COVID-19 outbreak is bringing the world to its knees. Globally, production lines and supply chains have been disrupted, stock markets are bearing down and businesses are buckling under.
The aviation and tourism sectors have already been hit hard. Given global travel bans, airlines are seeing flight bookings cancelled or postponed. Unlike big, public-listed organisations, smaller firms usually do not have share market values to worry about. But they have another big woe — cash flow. People may be asked to go on shorter work weeks. These belt-tightening measures will mean cost savings in the near term — and less likelihood of rampant layoffs or now.
READ: Commentary: Here's what G20 should be expected to do for the coronavirus outbreak this week. It won't be easy But laying off staff should really come last for companies. There are still opportunities for them to work on other measures that tackle their short-term balance sheet challenges but also strengthen their longer-term standing.
Stop the 200,000 coming into singapore PLEASE
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