46% Of Professionals Fear Being Laid Off Due To Coronavirus

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46% Of Professionals Fear Being Laid Off Due To Coronavirus
Anrita1705 / Pixabay

As the coronavirus pandemic has no end in sight, there is still so much uncertainty about the workplace. Blind, an anonymous professional network, with 3.6M verified users, asked its platform theses three questions in March, and again this week:

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Q2 2020 hedge fund letters, conferences and more

  1. Do you fear being laid off? (Yes/No)
  2. Have you started looking for new ways to supplement your income? (Yes, No)
  3. How many months will it take until you foresee life going “back to normal”?

(Less than a month, 1-3 months, 4-6 months, 6-12 months, more than a year)

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Workers Fear Being Laid Off

Key Findings as of 3/20 VS 6/28 by Region(5,700 Responses): 

  • 46% of surveyed professionals fear being laid off
    • Compared to 57% in March
      • 5% of Expedia professionals
    • Fears of layoff at Amazon fell from 46.3% to 42%
    • 64% of Uber professionals still fear being laid off
  • In March, 24.9% of surveyed professionals have looked for new ways to supplement their income
    • This number went up to 31% in July
      • 39% of Intel Corp professionals
      • 41% of Uber professionals
      • 24% of Amazon professionals
    • In March, 40.2% of surveyed professionals believed it would have taken 6-12 months for life to go “back to normal”
      • 4 months later,  44% of surveyed professionals now believe it’ll take more than a year for life to go “back to normal”
        • 4% think it will take 1-3 months

See the data highlights here.

Without significant breakthroughs with a vaccine, it is time to tell a narrative about the state of the Coronavirus economy. It is best understood by the everyday people working in it, not just the perspective of decision-makers, as their lives and welfare are the engine behind our economic recovery.

Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)www.valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
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