BUSINESS

Reduction of staff puts firms at risk

TAGS: Business

The staff cuts and the problems that have recently arisen in supply chains constitute the most serious risks for enterprises, according to corporate officials who participated in an EY Greece webcast on Tursday.

Over half of the participants (53%) estimate that staff cuts during the pandemic are the biggest threat to corporations, while 48% agree that the instability in supply chains constitutes the next most important corporate risk. Remote labor and salary cuts are considered less threatening, at 36% and 27% respectively.

The conference also heard the findings of the EY Global Integrity Report 2020 regarding the importance of corporate integrity. Nine in 10 participants believe that the pandemic has generated increased risks for the emergence of incidents of unethical behavior in corporations. The reasons behind that behavior are thought to be the impact of working from home on the traditional way of working (33%), supply chain problems (28%), employee salary reductions (24%) and job cuts (22%).

Over a third of respondents believe that unethical behavior is often tolerated at their enterprise when those involved hold senior posts.

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