Facing Quarantine Extension, Brazilian Companies Ponder Next Job Protection Steps

Over 5,000 companies are part of the ‘Não Demita’ ( no firings) group founded to ensure job stability until the end of May. Small-sized companies suffer from cash and credit shortages in times of crisis.

RIO DE JANEIRO, BRAZIL - The 1.5 percent decline in Brazilian economic activity in the first quarter of this year and the 4.9 million jobs lost between February and April partially attest to the magnitude of the crisis that Brazil is facing under the impact of the coronavirus pandemic.

For a faltering economy since the last recession (which ended three years ago), the combined effect of global downturn, health chaos, and political instability is drawing the picture of an even worse future for the coming months.

The financial market projects that the Gross Domestic Product (GDP) should contract by . . .

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