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COVID-19 has changed manufacturing in fundamental ways, and it will require some fresh thinking to adapt. Here are four essential actions to take to ensure that your vendors are adequately prepared to join you on the journey back.
Employers are confronting hard choices on employment issues, including possible employee furloughs and layoffs. While making these difficult decisions, executives should consider the full range of options and available resources.
Companies are beginning to separate into three distinct strategic directions: Full survival mode, doing just okay and trying to hang on, and, for a few of them, seizing an opportunity with big potential rewards.
Do all that you can to retain your current employees. The cost of hiring and training when the economy rebounds is significant, certainly far greater than the cost of keeping your employees on the payroll for a couple of months.