Patrick Thomas
speaker
995 appearances
15 recordings
1 series
first heard Jul 2018
last heard May 2024
Patrick Thomas’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Stimulus Jobless Benefits Spur Some Businesses to Cut Workers · 8 Apr 2020
podcast
They also started offering voluntary layoffs because they felt like some employees might want to take the benefits and not have to work during this time.
Maybe they're caring for a family member.
So voluntary layoffs were an option for them because of what was in the stimulus bill.
Well, the stimulus package is really changing the calculus for some employers.
They feel like they can now cut payroll costs without feeling like they're abandoning their employees.
The stimulus bill beefs up unemployment benefits to $600 a week on top of what states were already offering.
And that has supplemented some workers' wages completely.
Yeah.
Some of the lawyers we talked to specified that in the case of their clients, they're getting a lot of calls where employers are wondering, why wouldn't I do this?
It can be a win-win in terms of, in theory, my workers might make the same amount or in some cases more.
And during a pandemic, they're getting rid of that extra payroll costs and they see it as a win.
Some employers have said their employees might be better off
Macy's said that it factored in their decision to furlough.
They would continue paying certain health benefits through May, which they felt that along with some of the unemployment benefits, because when you're furloughed, you can still get unemployment benefits provided enough.
a cushion for their workers to furlough them indefinitely.
In the case of Steelcase, an office equipment manufacturer in Michigan, they had to shut down their factories last month and they said it really softened the blow.
It made it easier and it almost completely supplemented some of their workers' wages.
They also started offering voluntary layoffs because they felt like some employees might want to take the benefits and
not have to work during this time.
Maybe they're caring for a family member.
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