PayPal has recently announced their pledge of not laying off any employees due to the coronavirus pandemic. Joining the fight against coronavirus, CEO Dan Schulman said that the company, in an effort not to be a part of the recession chaos, announced to not layoff any employees amid the pandemic.
Schulman said to the media that “We don’t intend to do any layoffs as a result of COVID-19, and that’s the right thing to step up, in order to make sure they know that we’ve got their back.”
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Also, he further added, “If they’re sick, we pay them. If an office closes, we pay them. We need to be sure that we have their health and finances at heart as we deal with this crisis right now.”
Consequently, the CEO of Marvell Technology, Matt Murphy also told that the company has “no plans” to layoff employees amid the global pandemic. He said to the media, “I want the team to be focused on the mission at hand, which is taking care of customers and their own families.”
Join the likes of Bank of America, Morgan Stanley and Starbucks, PayPal and Marvell are also now offering job-safety assurances to employees who are worried about the economic shock from the coronavirus.
Additionally, PayPal is offering small businesses enough flexibility to deal with the issues they are facing right now. The company has also taken steps to assist its business customers who are struggling with the economy coming to a near halt. It is allowing its business customers to push back repayments on business loans or cash advances at no additional cost. Alongside, it also is doubling the window in which merchants can respond to a customer dispute and waiving fees for instant withdraws from business accounts.
Schulman said, amid this crisis “we need to take care of our shareholders, employees, and customers by stepping up and doing the right thing. And, that’s how we build businesses that can endure an economic downturn and can be strong. And a strong economy is helpful for everybody.”