In spite of some enhancements, the information shows that most of the business are required to make painful changes to adapt to brand-new conditions
By CYBERTECH
JULY 23, 2020 17: 56
THE GAV-YAM Hi-Tech Park of Beersheba is a joint initiative of the city’s municipality and Ben-Gurion University of the Negev.
( photo credit: screenshot)
According to the study conducted by the IIA and the Israel Advanced Technology Industries (IATI), in spite of particular minor improvements, most of the companies surveyed have suffered considerable effects as an outcome of the coronavirus crisis, and a higher portion of these business have actually had to lay off workers than in the previous study.
Nevertheless, the study also reveals some minor enhancements: a reduction in business that have actually stopped their hiring processes (from 71%in the May study to 55%in the current one), a slight decrease in business that have actually executed pay cuts (from 48%in the Might study to 45%in the existing one), a boost in companies reporting that they are not thinking about layoffs (from 33%in the May survey to 39%in the existing one), and increase in companies that are not considering pay cuts (from 26%in the May study to 33%in the present one). It is thought that this improvement is due to the bounce back in financial investments, as well as federal government assistance having actually kicked in recent months (consisting of the “Quick Grant” from Israel Innovation Authority), and the truth that in recent months, lots of companies have actually made painful changes to minimize their ongoing costs, consisting of pay cuts, layoffs and suspension of R&D processes– 69%of business surveyed reported that their R&D procedures have slowed down or stopped completely.
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