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5 Big Financial Factors for Manufacturers During COVID

November 16, 2020

Following the onset of COVID, economies across the world were stunted and forced to adapt to new policies and protocols put in place to keep people safe.

Manufacturing facilities were among the many industries that were significantly impacted when COVID restrictions mandated that individuals could no longer safely work together for extended periods of time in tight quarters. According to a recent NAM survey, 78.3% of manufacturers anticipate financial impact due to COVID’s effect on their business operations. Outside of the immediate changes needed to accommodate safety concerns brought about by COVID, CFOs and financial decision makers for manufacturing-based businesses are beginning to consider the extent to which they will lay off workers and/or scale down production to remain financially self-sufficient.

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