It’s official. The United States is in a recession, ending the longest period of economic expansion in history. And while the EU hasn’t officially come out and said it, Germany and France have proposed a $545 billion recovery plan to counter an impending “recession of historic proportions.” We’re facing unprecedented uncertainty on a global stage, but for savvy business leaders this could end up being the perfect time to transform your organization and draw from one of the most talented applicant pools ever.
Let’s be clear. Things are hard right now. The most recent data shows unemployment in the EU climbed up more than 397,000 since March. For European startups and tech companies, COVID-19 has triggered massive bail-outs across the continent. Despite the aid, startups are closing and US-based companies are winding down their European operations and leaving their employees behind.