esaay in around 200 words on topic Impact of Covid-19 on MNCs
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Coronavirus disease 2019 (COVID-19 or coronavirus) was first detected in December 2019 by health authorities in Wuhan City in the People’s Republic of China. Since that time, more than 118,000 cases have been confirmed worldwide, and the virus has spread to more than 114 countries across 6 continents, causing over 4,200 deaths to date, according to the World Health Organization (WHO). Spread of the coronavirus is causing a global emergency. It has been characterized as an “epidemic” by the US Centers for Disease Control and Prevention (CDC) and the WHO has just raised the status to that of a “pandemic”—an infectious disease that is able to infect people easily and spread from "person to person in an efficient and sustained way," according to the CDC.
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GENEVA (ILO News) – The COVID-19 crisis is expected to wipe out 6.7 per cent of working hours globally in the second quarter of 2020 – equivalent to 195 million full-time workers.
Large reductions are foreseen in the Arab States (8.1 per cent, equivalent to 5 million full-time workers), Europe (7.8 per cent, or 12 million full-time workers) and Asia and the Pacific (7.2 per cent, 125 million full-time workers).
Huge losses are expected across different income groups but especially in upper-middle income countries (7.0 per cent, 100 million full-time workers). This far exceeds the effects of the 2008-9 financial crisis.