Economy January 7, 2021 | 7:58 am

With 600k lost jobs, businesses warn of lay offs

Santo Domingo.- Small and medium-sized businesses warn that they will have to lay off more than 10% of the payroll, after the elimination of the employer assistance program, last December.

They asked the Government to extend the Phase II aid program until April, to be able to maintain employment and recover their operations.

The trade unions have indicated that in the labor market the job losses for this year reach 300,000 which added to the figure of last year will reach 600,000 jobs.

Pandemic

However, the projections will be conditioned by the effectiveness of the vaccination campaign against Covid-19 and by the degree of financial aid applied by the Government.