We’re Seeing Wage Deflation, White-Collar Layoffs And Pay Cuts

Aurora WDC Analysis: As the economic crisis resulting from COVID-19 worsens, many white-collar workers are expected to be hit with layoffs and pay cuts. Towards the beginning of the crisis, many of the layoffs were centered around the service and tourism industries, but now more and more white-collar workers are finding themselves out of a job. This will have a negative impact on the continued use of an SaaS platform. With less users, companies may try to renew at a lower cost for less service or may cancel renewals while funds are short. Any new projects may be cut as employees are let go and the service or tool provided to a company for such initiatives may also be on the chopping block.