The majority of companies represented by the American Chamber of Commerce in Albania (AmCham) have not dismissed employees yet, but they are soon planning on firing people if the financial situation does not improve.
A survey of 175 companies conducted by the AmCham found that 145 (83%) had retained all their employees in March and April, whereas 30 companies (17%) had dismissed 464 employees in total. AmCham represents 224 companies, who employ around 38,000 people.
In general, companies expressed willingness to protect their employees, “viewing them as precious human capital,” and stated that they would consider layoffs as a last resort only.
However, if the financial situation does not improve, about 16 more companies (9%) are planning to dismiss over 660 employees over the next two months.
AmCham has previously proposed a series of measures that could be implemented by the Albanian government during the coronavirus crisis to come to the aid of business.