Being Put On Furlough Isn't Just For Government Employees Now
- 4 years ago
Enforced lockdowns meant to slow the spread of the novel coronavirus COVID-19 has severely hurt businesses around the world.
According to Business Insider, some employers are choosing to put their workers on furlough, rather than firing them or laying them off.
An employee furlough is when staff members are required to take an unpaid, temporary leave of absence.
Employee furloughs help businesses cut costs and retain talent, but employees receive less income, or no income at all, and may seek new work.
One upside for furloughed employees is that benefits such as health insurance generally remain intact.
And, depending on the state, furloughed employees may also be eligible to receive partial unemployment benefits.
According to Business Insider, some employers are choosing to put their workers on furlough, rather than firing them or laying them off.
An employee furlough is when staff members are required to take an unpaid, temporary leave of absence.
Employee furloughs help businesses cut costs and retain talent, but employees receive less income, or no income at all, and may seek new work.
One upside for furloughed employees is that benefits such as health insurance generally remain intact.
And, depending on the state, furloughed employees may also be eligible to receive partial unemployment benefits.