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Italy might face up to 1Mln job cuts due to COVID-19 pandemic
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Italy might face up to 1Mln job cuts due to COVID-19 pandemic

India Blooms News Service | @indiablooms | 29 May 2020, 02:52 pm

Rome/Sputnik/UNI: From 700,000 to 1 million people in Italy might lose their jobs due to the economic effects of the COVID-19 pandemic, the head of industrial employers group Confindustria, Carlo Bonomi, said on Friday.

On Thursday, the ANSA news agency reported, citing the Italian National Institute of Statistics, that up to 400,000 Italians could lose their jobs by the end of 2020 because of the coronavirus pandemic.

"Let's wait for the data for the end of May, but we are talking about the situation when from 700,000 to 1 million jobs that are at risk," Bonomi said during a videoconference on prospects on national entrepreneurship.

According to the Confindustria head, the Italian leadership lacks the strategic vision to develop ways to overcome the current crisis.

"I see the political class focused on the emergency, and that is right. But it completely lacks a vision, a strategy regarding where we should go, and this is a matter of deep concern," Bonomi stated, adding at the same time that this crisis could provide major opportunities to modernize the country, and the authorities should take advantage of it.

So far, the country has reported 231,732 COVID-19 cases, with 593 of them being recorded over the past 24 hours, continuing the downward trend in the country. A total of 33,142 people have died since the start of the outbreak.