Why we're seeing mass layoffs in the US but not the UK

[Quixote1818]

[Turbineguy]

1. Business schools seem to teach

short-term economics only. Somewhere was lost that managing a business means taking part in a functioning society instead of merely raking in profits.

[Wellstone ruled]

3. So friggin true.

Preserve Capital and fire your workers,labor is replaceable and there will always be unemployed people available at a lower labor unit cost. Management Seminar at the University of Utah 2006.

[msongs]

2. information supporting the title starts at 4:10 nt

[tblue37]

4. K&R for visibility. nt

[appalachiablue]

5. 'Europe's Govts. Move To Save Wages: France, Germany, UK, Ireland, Italy Spain'

"The Race To Save Jobs: EU Govts. Step In To Save Wages: France, Germany, UK, Ireland, Italy, Spain"
-*March 25, 2020, France24.

Tens of millions of jobs are now at risk from the coronavirus pandemic, with entire industries being shut down to keep the virus from spreading. Governments across Europe are spending billions on wage subsidies in a desperate effort to save jobs and cushion the economic blow.

A spike in unemployment is a triple threat to a country’s economy: consumer spending and tax revenues drop, while social welfare costs skyrocket. The International Labour Organization estimates that almost 25 million jobs could be lost worldwide due to the coronavirus pandemic.

Governments across Europe are using public money to try to secure jobs through the crisis by paying or reimbursing companies that have seen their revenues dry up. Their goal: to keep employees on the payroll so they can resume working when businesses re-open.

Here are some of the plans to help individuals that have been announced so far.

- FRANCE: As the number of cases of the virus began to rise, the French government extended its system of chômage partiel, or partial unemployment. When a company is forced to reduce or suspend work, it can apply for state funding of 70 percent of an employee’s gross salary, to a maximum of €6,927 per month.

As of March 24, 730,000 workers were being paid under this scheme. The finance ministry has already set aside €8.5 billion in funding but that amount is expected to rise. With schools and crèches (nurseries) closed, the French government is also giving paid leave to parents who cannot work from home and who are responsible for children younger than 16... https://democraticunderground.com/1016254261

[elleng]

6. McDonald's Workers in Denmark Pity Us. 'Danes haven't built a "socialist" country.

Just one that works.

*Moreover, Danes kept their jobs. The trauma of massive numbers of people losing jobs and health insurance, of long lines at food banks — that is the American experience, but it’s not what’s happening in Denmark. America’s unemployment rate last month was 14.7 percent, but Denmark’s is hovering in the range of 4 percent to 5 percent.

“Our aim was that businesses wouldn’t fire workers,” Labor Minister Peter Hummelgaard told me. Denmark’s approach is simple: Along with some other European countries, it paid companies to keep employees on the payroll, reimbursing up to 90 percent of wages of workers who otherwise would have been laid off.

Denmark also helped hard-hit companies pay fixed costs like rent — on the condition that they suspend dividends, don’t buy back stock and don’t use foreign havens to evade taxes.'>>>

https://www.democraticunderground.com/1016255030