New Delhi: With the COVID-19 pandemic wreaking havoc across the world, it is also adversely affecting the economic situation in several countries, as numerous businesses and industries are being forced to shut down.
As a result of this grave economic situation, many companies have resorted to furloughing their employees - asking them to go on unpaid leave rather than firing them.
What makes this situation bad for the furloughed staff, is the fact that they continue to remain on their companies' payrolls.
While this move is benefiting the employers, who are looking to get started as soon as the situation gets better, it is the worker who gets hit the hardest due to a sudden halt on income.
Here is what countries around the world are doing to aid workers in such a situation:
United Kingdom:
The government has offered grants for the employers, covering as much as 80 per cent of wages of the employees who are on temporary leave (furlough) due to the prevailing conditions. The government's coronavirus Job Retention Scheme, which was launched earlier in March, offers a maximum of £2,500 per worker per month.
United States of America:
The US Senate passed a $2 trillion coronavirus rescue package, from which the government will pay the wages of workers who have either lost their jobs or continue to remain on their companies' payroll.
France:
French President Emmanuel Macron assured workers that the state would bear the financial burden of those who are forced to stay at home. He has promised promised €45 billion worth of budgetary support for companies and workers.
Australia:
The Australian government announced that it would subsidise wages of up to six million workers as part of it AUD$130 billion plan over the next six months. The workers would be eligible for wage subsidies of AUD$1,500 per fortnight.
Sweden:
In Sweden, the government has promised that it will heavily subsidise workers’ salaries so that they get 90 of their wages and reduced working hours.
Denmark:
In a similar move, Denmark has also said it would subsidise 75 per cent of salaries for firms, provided they do not lay-off their staff.
