How to Survive a Layoff or Furlough During COVID-19
Founder @ NowSourcing. Contributor @ Hackernoon, Advisor @GoogleSmallBiz, Podcaster, infographics
COVID-19 has closed down thousands of businesses, stores, and restaurants have millions of workers laid off or put on furlough. As of April 30, 2020, 30 million working Americans filed an initial unemployment claim - that’s nearly 20% of the total workforce. Laid off employees are totally removed from a company, removed from a company’s payroll, and lose all employer-provided benefits.
The laid off employees do retain, however, the possibility of returning to work. Furloughed employees on the other hand, are on temporary, mandatory, and unpaid leave from work - the length of the leave depending on the situation. Furloughed employees remain on a company’s payroll, but don’t receive a paycheck but still retain employer-provided benefits.
Unemployment benefits are being expanded to more people. Not only furloughed or laid off employees are being helped by the new Coronavirus Aid, Relief, and Economic Security Act, or CARES, which is giving out a $2.2 trillion stimulus to a wide array of relief and stimulus programs, but many other groups are also being assisted.
If you have a partial loss in income, such as reduced hours during times when you can work or are laid off or furloughed from one job and still have another, you still can get benefits from CARES. Nontraditional workers, such as gig workers, freelancers, and self-employed workers are also being aided. Workers who quit due to reasons tied to COVID-19 and recent hires who were scheduled to start work but weren’t able to start because of COVID-19.
Caregivers of children out of school, family members who are sick with COVID-19, and elderly individuals and families who no longer have access to adult daycare. Those who have lost the primary breadwinner of the household to COVID-19 may also be eligible for unemployment benefits.
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