In July 2020, the Bankwest Curtin Economics Centre published a research brief on the impact and response of business in Australia to COVID-19. Impact varied by business size and industry, with industries such as tourism, education & training, accommodation and food services significantly affected. By June 2020, 66 per cent of businesses reported a decrease in revenue compared to the same period 12 months earlier.
In the two weeks from mid-March to 3 April 2020 the following workforce changes occurred in businesses with over 200 employees (similar responses were recorded across all business sizes):
- 70 per cent changed their workforce in some way
- 34 per cent temporarily reduced staff work hours
- 23 per cent of staff placed on paid leave
- 20 per cent of staff placed on unpaid leave
- 62 per cent changed staff work location (e.g. Working from home)
