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We Asked Our Partners

What have business leaders done to reassure and support their workforce through the Coronavirus crisis?

Susanne Becker Mikkelsen
Partner
Friisberg & Partners Denmark

In Denmark businesses have been compelled to re-visit and re-think their current strategy and business models – already some have even switched products and service offerings. There has been a clear acceleration of digital transformation including new channels, especially online channels both in B2C and B2B. Obviously in light of economic constrictions there has been necessary and widespread cost cutting in all facets of business to better secure the cash situation. An interesting development has been a change of sourcing from global to more regional/local supply chain. In particular from Far East countries to more near-by supplier locations. The government has made available support packages, including salary compensation, to keep employees in their jobs although in some companies there has been a mutual understanding of a lowering of the salary for the employees (10-25%) during the Covid-19 crisis thereby avoiding the need to lay-off people.

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