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The coronavirus pandemic has disrupted virtually all aspects of society, especially business. We’re here to help you make sense of it all and minimize your risk. Thread below.
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“How one CEO saved his 12,000-person company without a single layoff” https://twitter.com/i/moments/1248669424711798786 …
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What CEO Bob Chapman did to avoid layoffs: • Suspended exec bonuses/401k match • Cut travel/discretionary spending • Voluntary early retirement program • Cut his own salary from $875K to $10.5K • Employees asked to take 4 weeks unpaid time offhttp://read.medium.com/lN6XLBX
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"I asked myself what a family would do when faced with such a crisis. Every member of the family would sacrifice a little so no one person would have to suffer a lot."http://read.medium.com/lN6XLBX
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"Laying off people would not only destroy the culture we had worked so hard to build, it would also be brutal to let them go into an environment where there were no other jobs to be found."http://read.medium.com/lN6XLBX
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Marker by Medium Retweeted
Making masks elevates fashion companies into 'essential' manufacturers. Which means they can keep operating while everyone else is shut down. Fascinating piece here from
@AlmostZara The Real Reason Every Fashion Company Is Now Making Face Masks@MRKRhttps://marker.medium.com/the-real-reason-every-fashion-company-is-now-making-face-masks-939c2055a3b3 …Thanks. Twitter will use this to make your timeline better. UndoUndo -
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"One of the things I’ve learned in my 45 years leading a company is that while management is about using others for your success, leadership is about stewarding the lives entrusted to you."
@kozemoze spoke with CEO Bob Chapman,@barrywehmiller for@MRKRhttps://marker.medium.com/companies-dont-need-to-lay-people-off-to-survive-4197a9e57f6c …Thanks. Twitter will use this to make your timeline better. UndoUndo -
Cash. Financial reserves. Liquidity. It’s essential to every business and its long-term survival.http://read.medium.com/pZhnRtj
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Marker by Medium Retweeted
"Even Dov Charney, the infamous former CEO of American Apparel, is going full throttle: His Los Angeles Apparel cotton face coverings can be found on mask-clad models in sexy poses (of course) on his company’s website and Instagram account."https://marker.medium.com/the-real-reason-every-fashion-company-is-now-making-face-masks-939c2055a3b3 …
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“The real reason every fashion company is now making face masks” https://twitter.com/i/moments/1248332391980072963 …
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Manufacturing face masks allows companies to be viewed as essential businesses. Indeed, many of the brands and the factories that produce them are getting granted “essential” status and having their applications fast tracked.http://read.medium.com/Dlz3fNm
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The bottom line, though? Selling masks allows these companies to continue operating. Indeed, for some fashion brands, pivoting to making masks may be the only way they can possibly weather this crisis.http://read.medium.com/Dlz3fNm
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The free PR has been helpful, especially for the small, struggling brands who are facing near apocalyptic conditions. It’s also quite possible that many of these companies, feeling powerless, have pivoted all their resources to masks to help conquer a health crisis.
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This includes: • couture big shots like Prada and Chanel • mall brands such as Gap and Zara • niche designers Johnny Was, American Giant, and Lilly Pulitzer • tiny indie brands like Youphoria Festivalwear and Lesley Evers • DIY vendors on Etsyhttp://read.medium.com/Dlz3fNm
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Amid this drought, it seems there’s hardly a fashion or apparel brand that hasn’t stepped up to retool its production lines to help — pumping out face masks, both medical- and consumer-grade.http://read.medium.com/Dlz3fNm
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The CDC’s COVID-19 guidelines recently suggested that people wear “simple cloth face coverings” to cover their nose and mouth. N95 masks are no longer supposed to be worn by the general public, as priority shifts to frontline workers.
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Marker by Medium Retweeted
Finally, an answer to why every fashion brand is suddenly making masks right nowhttps://marker.medium.com/the-real-reason-every-fashion-company-is-now-making-face-masks-939c2055a3b3 …
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Over the past decade, hip-hop and R&B have been keeping recording studios in business. But now, because of coronavirus, the future of the recording studio — and how music is created altogether — is being called into question. http://read.medium.com/VFZJnaA
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Recording studios, engineers, and the music industry at large have inevitably been hit by the coronavirus crisis. Really interesting look at how this is shaking out—including what the economic implications may be—in
@levelmag today:https://level.medium.com/how-rappers-and-recording-studios-are-coping-with-the-pandemic-d12a29754ac7 …Thanks. Twitter will use this to make your timeline better. UndoUndo -
From Airbnb workarounds to clandestine masked sessions, the music world is pressing on. (via
@levelmag)http://read.medium.com/A9KA4WdThanks. Twitter will use this to make your timeline better. UndoUndo -
Marker by Medium Retweeted
It turns out fashion companies are likely starting to produce masks so they can be classified as an "essential business" and stay afloat with government contracts during the pandemic.https://marker.medium.com/the-real-reason-every-fashion-company-is-now-making-face-masks-939c2055a3b3 …
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