The onslaught of news and information regarding COVID-19, which evolves daily and often seems contradictory, has led to anxiety and confusion for many companies. In particular, for those individuals in charge of Human Resources, the questions with regard to wages and leave issues are countless. Although the response to inquiries will continue to evolve as the situation develops, the following summary will provide guidance to companies looking to navigate this emerging public health situation.
We are living in uncertain and unprecedented times, and businesses are not exempt from the impact of COVID-19. Government shutdowns, workforce restrictions, and the stock market’s plunge have unsteadied the economy and affected businesses large and small as they fight to adapt to the “new normal” while trying to maintain a “business as usual” approach. Business owners need to manage today but must look ahead to identify and prepare for risk caused by the COVID-19 virus.
The impact of COVID-19 is far-reaching and causing anxiety and confusion for businesses, economies, and markets. At Porzio, Bromberg & Newman, P.C., and the Porzio family of companies, our attorneys and business consultants are monitoring the news, legal, and community updates so that we can serve the legal and business needs of our clients during this difficult time.
At Porzio, people are our priority. We are well aware of the impact COVID-19 is having on our personal and professional lives, and remain focused on the well-being of our people, our clients, and our communities.
As you evaluate your agreements and consider the above steps for each relevant contract, we can assist in providing a more detailed review of your contracts and insurance policies to determine the best course of action to mitigate risk and possibly recover damages. Early legal evaluation may also result in a less costly outcome down the road.