Nearly half of all U.S. small businesses have let go of employees because of COVID

Nearly half of all U.S. small businesses have let go of employees because of COVID

Nearly half of all U.S. small businesses have let go of employees because of COVID
Reading Time: < 1 minute(Last Updated On: May 27, 2020)

New data from SCORE shows that a staggering 47% of small businesses in the United States have furloughed, temporarily laid off, or outright fired employees in response to complications brought about by the coronavirus outbreak. Another 35% of small businesses reported that they’ve had to reduce employee hours or pay.

Surprisingly enough, 3% of small businesses have actually hired employees during the pandemic. And 15% of small businesses have scaled up their plans between March and April. It’s not all gloomy news after all!

Get the full scoop here.

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