Welcome to the end of week two of madness
Half the companies I know are doing cuts: furloughs (no work/no pay until this ends), 10-50% pay cuts, 10-50% staff reductions (likely permanent) and more.
If this continues for 2-3 months we will see half the startup heard thinned out
I’m not worried about the stock market, I’m worried about the middle class, because they have big overhead that can’t withstand this downturn & the low $ cap on unemployment
Folks at the bottom will likely be ok on financial basis, with unemployment being the same as lost wages
Max unemployment seems to be 500-700 depending on the state; if you were at $70k+ that is a major hair cut. At $25-35k it’s likely a push.
You can follow @Jason.
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