Seeing as the stock market is utterly tanking, I would be very surprised if the world didn't go into recession, and consequently, if there weren't a number of people losing their jobs in order to make the businesses lean again. This is especially true of countries like the US, where it seems very simple to fire someone.
People keep saying “recession” but that sounds like they don’t understand the implications of what’s happening to the world economy right now. “Global depression” seems like a more appropriate term but time will tell. I’m a CFO of $300M company that employees ~2200 employees. We’re out of cash in 6 weeks if our revenue continues to decline. Down 30% vs last year this week (which is good compared to most). Doing layof…
I also don't quite understand how a $300M (assuming revenue, not valuation) company can run out of cash in 6 weeks. You're saying you can't make payroll in 6 weeks at the current trajectory?