It seems this an area in which understanding is not sufficiently clear. This is influenced by the market segment of activity of the company in question and by the government identification which in the case of Europe has not followed a unique pattern. Companies related with Energy and defense have a clear indication, but other sectors are not so clear.
Companies are taking actions with different approach but with a common objective of overcoming the impact the crisis is bringing forward
Common actions are related with dedicated daily review meetings to understand the evolution of the impact and take actions vs the plans accordingly. Many companies have cut down Capex investments and they are implementing cost reduction programmes monitoring very closely cash status (funding only business critical activities). Health & Safety internal measures and procedures are clearly applied to protect personnel working. Working remotely from home where feasible has been implemented.
Agreements with the work
force are also being established accordingly with the situation of the company, paid permissions, temporary lay off … within the different solutions applied. Qualification matrix of personnel need to be updated and systematically maintained as changes in personnel are far more probable and key positions must be covered and ensured. Digital communication and collaboration tools solutions are generally being implemented to sustain teams operation working. The medium-term impact of the crisis is assessed hereby as high. Automotive sector and Aviation is considered to be very much
14 ❘ April 2020 ®
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