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
So voluntary layoffs were an option for them because of what was in the stimulus bill.
In theory, this might seem like a good idea to employers to get rid of that extra payroll costs, but they risk alienating their workforce if they decide to furlough employees for a long period of time or lay them off completely.
You risk losing your workforce and then you have to hire them back when this all blows over.
you have to completely rehire everybody and they might not want to come back or maybe have found work someplace else.
So in some cases, it's kind of a gamble for employers.
And that's why a lot of them are opting to furlough their workforce.
Like in the case of Macy's, they're opting to furlough rather than completely say you're laid off.
A furlough implies that the workforce will be recalled at some point.
So that helps soften the blow a little bit.
We also really don't know how long it will last.
I mean, this expanded program is supposed to last for four months.
But if the pandemic lasts longer, we're not sure what are those workers going to do.
It may not cover all of their expenses, especially if you live in an expensive city like New York.
It may still not be enough.
And in some cases, you're not sure when you're going to get it in the mail.
Payments might not arrive.
arrive in time.
There's a lot of other drawbacks to receiving these benefits.
And you're also out of a job.
You know, it may sound nice.
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