The coronavirus is also having a strong economic impact in China. Therefore, many companies are deciding to stop working or close many of their stores temporarily just on the day that the Chinese government has issued in a statement that “the virus is expanding . ” The latest figures speak of 132 people killed due to the coronavirus.
Air transport companies such as British Airways have decided to stop flying to China while others have returned the amount of the ticket in full in cases where their customers have decided to cancel their trip.
On the other hand, the Swedish furniture company, Ikea, has decided to temporarily close half of the 30 stores they have in China. The company has announced that it will continue to pay the salary to its employees. It is estimated that Ikea in China employs around 14,000 people. Meanwhile, another big company like Starbucks has decided to close up to 2,000 new coffee shops.
In turn, Toyota has made official that it will suspend operations at its plants until February 9. Meanwhile Volkswagen and Credit Suisse banks Morgan Stanley and Goldman Sachs have asked their workers to telework.
Finally, it has also been known today that the H&M clothing company has closed 45 stores and suspended business trips from both the Chinese country and from outside, as well as that they have advised all their workers to remain, for the moment, 14 days in their houses.
For most companies, it is still too early to quantify how many losses this break will mean to which the country is being subjected.