As we moved into our second phase of supporting firms, we want to take a moment to celebrate the fact that 94% of our ECAIF members are actively engaged in our ongoing working groups! These times have proved invaluable in helping our members respond appropriately, quickly and effectively to COVID-19 through effective risk mitigation planning and response.

Our phase 2 programme focuses on readying firms for the recession that’s coming, and we looked at ways to reduce costs and methods to mitigate the impacts of the recession on cashflow and finances.

Our Working groups take place weekly on the following days.

•  Wednesdays at 14h30 – 15h30
•  Thursdays at 14h30 – 15h30

In our weekly discussions, we delve deeper into the following discussion points.

1. Assist firms to restructure their business responsibly and ethically 
2. Understanding the various options associated with: 

• employee cost reduction,
• material costs reduction
• operational cost reduction

3. Forecasting the rebound of the economy and taking appropriate steps to prepare for it.

Working Group Sessions exist to help enable cluster members to respond appropriately, quickly and effectively to COVID-19 through effective risk mitigation planning and response.