No layoff plan related to novel coronavirus pandemic in 2020: Alfred Kelly

The pandemic has brought a drastic impact into the economy . With the global travel bans, sporting events cancelled and the mass gatherings have prohibited, stock markets in freefall and deserted shopping malls. It is the time Get ready for the Covid-19 global recession.

Visa Inc. has 20,000 employees will not lay off any employees in 2020 in relation to the impact of the novel coronavirus pandemic, sais by Alfred Kelly Jr., Chairman and CEO- Visa.

Jobless claims in the United States surged to a record of about 3.3 million individuals filing for unemployment benefits, which came after mass layoffs due to measures implemented to contain the spread of the pandemic.

However, according to a survey, to combat this situation, a majority of leaders expect that their business would return to normal within three months if COVID-19 were to end immediately. Organisations will be focusing on near-term solutions to manage disruptions, rather than longer-term solutions with strategic implications.

Recently, in a post, Chairman and CEO of Visa, Alfred F. Kelly Jr. assured his 20,000 colleagues that the company will have no COVID-19 related layoffs in 2020. Kelly said, “There is enough sadness in the world and already too many families impacted by job losses. I have no interest in contributing to that.” He added, “Our employees and clients continue to be my top priority during this challenging time.”