Covid 19 -

[Franco Cozzo]

Originally Posted by cheap

My call:

I think unemployment will go even higher. This crisis has given many businesses the option to re-evaluate who is essential and who isn't. I expect more redundancies hitting an already bad job market. Wages will go down too.

From a company financial aspect, this crisis has provided businesses the opportunity to bring to the surface losses that they have had buried deep within their balance sheets. If you're going to make a loss then make it a big loss and blame China/C19.

Also, there is the risk of a second outbreak.

It will never go back to "normal", but will gradually improve in 12-24 months.

In the meantime ScoMo better get more money printing presses.

With the wages going down, if they offered me to keep my job but take a $10K pay cut, I'd consider asking them to give me a letter on company letterhead that they're standing me down because of COVID-19, because there's not much in it between what I get now for actually working and what govco COVID-19 fortnightly payments are.

Sit at home doing **** all for the same cash as doing what I do? That's not a hard decision to make.

The same thing happened with a friend of mine in WA, got stood down and then reoffered a few shifts at work but he was only going to be getting $45 more for going to work.

I'd do that and while sitting at home look at starting another business again I reckon but I'd do it differently this time.