I can’t believe what is happening these days with the corona virus. Businesses ran out of cash, tenants aren’t paying rent, and employees salaries are being cut. It is a pure survival mode for businesses and employees to get through this crisis. There were lots of businesses that were suffering before the crisis, and these businesses will definitely go bankrupt now. These businesses already have lots of loans, so taking more loans won’t solve the issue. In the end all these loans will be paid back. To survive majority of businesses cut their employees salaries in Kuwait. I realized that lots businesses are within the same range of salary cuts. In March some companies were paying full salaries and some were cutting 30-50%. In April some companies are cutting 50-80% of the salaries and some aren’t even paying salaries. They only cover housing and food, but they can’t pay any salary because they don’t have money. Now we are in May, and things aren’t getting any better. The reason employees are accepting salary cuts, because there aren’t other options. Either they take salary cut and make some money or make nothing. Trying to find another job is almost impossible, so sticking to a job at hand is much safer. Hope everything goes back to normal very soon.
