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Employers Are Doing Their Best to Avoid Layoffs

Since the COVID-19 pandemic began shutting down non-essential businesses around the world, companies began bracing for an uncertain future. The first priority for many of Aon’s clients was securing remote working arrangements (where possible) for their employees, ensuring their safety and making decisions about whether, and how long, to pay employees that could no longer work.

Now that we are months into the crisis, business’ concern is shifting to developing alternative financial scenarios, shortening forecast periods, altering compensation and hiring plans to conserve cash and making tough decisions about whether workforce reductions may be necessary.

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