Insights

COVID-19 crisis: Organizations are taking a pledge to cease any plans to layoffs

Though cost-cutting is understandable due to coronavirus pandemic, one cannot deny the fact that the entire business economy is getting hit hard by it. In this high uncertainty situation, some companies have come forward to take a no-layoff pledge, and ensure their employees feel secured with their jobs.

Companies like ‘Cognizant’, ‘Airbus Group SE’, ‘Bank of America Corporation’, and many more have ceased their plans to significant layoffs. Enhanced employees’ efficiency and commitment, a boost in employee morale, elimination of anxiety of losing a job are some of the significant benefits of such a noble act.