Bosses warn of massive layoffs, wage cuts as uncertainties continue

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Many SME employers are no longer able to avoid shutting down their businesses, says the Small and Medium Enterprises Association of Malaysia.PETALING JAYA: SMEs have sounded a warning that there may be massive retrenchments or wage cuts from this month as uncertainties over Covid-19 continue in the Klang Valley.The Small and Medium Enterprises Association of Malaysia said most companies could still sustain staff salaries and operations until the middle of last month.However, its president, Michael Kang, said that from this month, employers were at a loss over how to continue the operations as many were shuttered following the lockdown and enforcement of the enhanced movement control order (EMCO) in parts of Kuala Lumpur and Selangor.“In May and till mid-June, most were still holding on to their workers, hoping for the situation to improve, but the number of cases keeps going u…