Economics
Chinese Companies Say They Can’t Afford to Pay Workers Now
- Coronavirus precautions are keeping customers, travelers home
- The private sector, China’s fastest-growing, is hardest hit
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A growing number of China’s private companies have cut wages, delayed paychecks or stopped paying staff completely, saying that the economic toll of the coronavirus has left them unable to cover their labor costs.
To slow the spread of the virus that’s claimed more than 2,000 lives, Chinese authorities and big employers have encouraged people to stay home. Shopping malls and restaurants are empty; amusement parks and theaters are closed; non-essential travel is all but forbidden.