As many smaller businesses are laying off employees or implementing pay cuts and forced furlough days, working for a larger company amid a global pandemic has its benefits.
The Wall Street Journal (WSJ) looks at a number of companies, including Houston-based Waste Management (WM), which have been less vulnerable to labor issues during the COVID-19 health crisis. According to WSJ, WM CEO Jim Fish told employees the company will continue to pay them for 40-hour workweeks regardless of whether their hours are cut or services are curtailed.
Fish made the decision a couple of weeks ago and ran it by his senior leadership team and board of directors. He said the policy will continue indefinitely, the report notes.
The Wall Street Journal has more:
Among the hard truths the new coronavirus is revealing is this: A pandemic can be a good time to work for a big company.
As many small businesses operating with little cushion are laying off employees, dozens of large companies so far have extended pay and benefits to workers whose livelihoods are affected by the virus.
AT&T Inc. T -0.16% is offering up to 160 hours of paid time off to employees whose children are suddenly at home and need supervision. JPMorgan Chase & Co. is sending $1,000 bonuses to certain branch and operations employees who can’t work from home, to help allay costs like child care and transportation. Saks Fifth Avenue is closing its stores for two weeks and will pay employees for their scheduled shifts. Many other big companies are extending similar assistance.