Faculty News

Professor Joseph Foudy explains why some companies are opting to cut salaries instead of laying people off during the coronavirus outbreak

Excerpt from Adweek -- "The pandemic serves as a 'short-term shock,' said Joseph Foudy, clinical associate professor of economics at NYU Stern School of Business. Unlike a recession, there could be a turnaround in months, not necessarily years. 'If the recovery comes sooner than expected, they could find that it’s difficult to regrow,' Foudy said. 'It would be really inefficient to lay people off.'”

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