Gov. Cuomo says US economy won't bounce back on its own post-pandemic because 'too many' small businesses have closed and corporations won't rehire laid-off workers
https://www.businessinsider.com/cuo...atically-companies-wont-rehire-workers-2020-5
"I don't believe this economy just bounces back," Cuomo said. "Too many small businesses have closed, you'll see many of these corporations are going to use this as an opportunity to lay off workers."
Cuomo predicted that companies won't rehire all of the employees they fire or furlough as a result of the coronavirus.
"Many businesses will have gone through this period where workers were at home. They had fewer workers and used more technology and they're going to decide: 'Well, we don't need as many workers,'" he said.
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https://www.businessinsider.com/cuo...atically-companies-wont-rehire-workers-2020-5
- New York Gov. Andrew Cuomo said the US economy won't recover on its own because "too many small businesses have closed" and corporations won't rehire as many workers as they laid off.
- "They had fewer workers and used more technology and they're going to decide: 'Well, we don't need as many workers,'" he said during a press conference Sunday.
- Cuomo said the government will need to play a role in stimulating a post-pandemic economy by working with the private sector and investing in infrastructure projects, education, and telemedicine.
- During the week ending May 16, 2.4 million Americans filed for unemployment, bringing the 9-week total to nearly 39 million, as the coronavirus continues to devastate the US economy.
"I don't believe this economy just bounces back," Cuomo said. "Too many small businesses have closed, you'll see many of these corporations are going to use this as an opportunity to lay off workers."
Cuomo predicted that companies won't rehire all of the employees they fire or furlough as a result of the coronavirus.
"Many businesses will have gone through this period where workers were at home. They had fewer workers and used more technology and they're going to decide: 'Well, we don't need as many workers,'" he said.
(More at above url)
