Effects of corona/covid-19 on IT&Telecom members

Due to the rapid development of events as a result of the corona pandemic and its major impact on the business community, IT&Telecom companies have sent out a survey to member companies with questions about how the crisis has affected the industry so far.

The survey, which was sent out to around 1400 CEOs, HR managers/managers and sales managers of IT&Telecom companies' members, was open between April 23 and April 29, 2020. It generated a total of 243 responses.

Impact on revenue

The majority of the responding companies estimate that the corona crisis will have a negative impact on revenues in 2020. Only 11% say that they expect revenues to remain unchanged.

Layoffs

A majority of the participating companies say that they have already laid off staff or believe that they will need to do so in the future. 21 percent responded that they have not yet made use of the layoff option, but that they believe that they will need to do so in the future. 41 percent of the respondents state that they have not laid off staff and that they do not believe that this will need to happen in the future.

Reduction of employer contributions and deferral of tax payments

A majority, 83%, of the responding companies state that they have used the reduction of employer's contributions and 13% the deferral of tax payments.

Many missions canceled or postponed

In the survey, 66% reported that some existing assignments have been canceled or postponed and 61% that few new assignments and business have been added during the period. Around a quarter also reported problems getting paid by clients for work done.