Regardless of size, financial measures are being taken during the pandemic

Despite the COVID-19 global pandemic, varied precautions have been put in place to keep both large and minuscule corporations functioning and secure. 

Throughout the raging pandemic that began widely sweeping the globe in December of 2019, businesses large and small, have been forced to adapt their practices to maintain functionality during this trying time in recent history. These changes in practice absolutely vary from establishment to establishment, as different levels of financial leeway affect what can and can’t be done. Small businesses, for example, have had to much more acutely “Identify essential employees and business functions, and other critical inputs” due to general financial limits in comparison to larger, more well-equipped corporations. 

This process can lead to a number of employees at once at no fault of their own other than the reality of their position and standing within the company. There are also a variety of relief programs for small businesses to help them along through the crisis. Things such as the Paycheck Protection Program, EIDL, and SBA Debt Relief are all geared towards maintaining the financial stability of small businesses during the pandemic. 

In regards to the much larger, more wealthy businesses, the federal government has been significantly more directly involved in the changes, adjustments, and the relief they receive. State Banking Agencies, for example, are being closely monitored and assisted by the FDIC to continue doing their work. In conjunction with the FDIC, these agencies have distributed Economic Impact Payments to eligible consumers. In other words, larger corporations have been less helped along by upper business entities and monitors than they have been partnered with them in many cases. 

Much like smaller businesses, however, larger corporations have been forced to downsize their workforces for the sake of maintaining stability. The difference is that due to the much larger size of their workforces, these layoffs are on a significantly larger scale. Enormous chains and brands such as Dell (exact percentage unspecified) , Kohls (15% of its corporate workforce), and Citigroup (1% of its global workforce) have been reported to have been making major cuts to their liveware

In general, businesses are facing new challenges at every level during the Coronavirus outbreak. Changes are being made, no matter how large or small these businesses may be. 

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