Page 8 - ஆலோசனை கூட்டாளர் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Published July 10, 2021, 8:28 AM As the pandemic drags on, some enterprises are forced into reducing their workforce, or worse even shutting down due to the subsequent recession that followed. Data from the Philippines Statistics Authority (PSA) released last March showed that the economy shrunk more than expected in the first quarter this year, extending the recession to five straight quarters. The country’s GDP declined to -4.2 percent in the first quarter of 2021, which is significantly lower to -0.7 percent in 2020 Q1 and 5.9 percent in 2019 Q1. What’s more, the pandemic has drastically changed the way businesses operate, pushing businesses to reject former processes and create working environments that entail less physical interaction. There were notable enterprises that barely flinched amid the lockdowns since their operations have integrated cloud technology.

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