Managing Financial Crisis, Job Cuts & Dealing With Ethical Dilemma: Deepak Narayanan

As the business leaders grapple with the ethical dilemma of choosing between not cutting the jobs & letting the business sink, it is time to reassess the way business was being done so far. The conflict between morality & saving business is not easy. Despite the gloom, those that are able to change business models with speed will survive while those that procrastinate will go out of the market. Deepak talks about the ways how businesses can manage their finances along with the ethical dilemma and emerge winning in these difficult times.

Over half of the top 500 companies listed on the National Stock Exchange could find themselves strapped for cash to even make routine payments in the aftermath of the COVID-19 induced lockdown. Except for some strong companies, a majority of the firms could find themselves in liquidity trouble, unless if promoters step in with equity or banks lend to them.

As per data out of 467 of the top 500 NSE-listed companies, excluding banks, 257, or 55% of them, have less than 100% cushion for bearing fixed and debt-servicing costs. Should the CEO think about the sailors or the ship? Can both be saved? How to manage job cuts? 

To talk more about it, we have with us Deepak Narayanan – a Qualified Chartered Accountant and the Founder Director of MyCFO and Practus Advisors, a leading Office of CFO and Performance Improvement services. His team comprises over 1200 professionals across India, USA, and the Middle East with projects in over a dozen countries.