Coronavirus: Quarter of Manx firms 'plan to reduce staff'

A quarter of Manx businesses are planning to reduce their workforce due to the impact of the coronavirus outbreak, the Chamber of Commerce said.

A survey of more than 400 firms reported 26% intend to permanently cut staff while 50% would furlough employees in the next week.

Despite this, 82% of businesses expect to survive the pandemic with "the right government support", the survey found.

There have been some 300 positive tests for the virus on the Isle of Man.

A previous survey published by the Chamber of Commerce said the coronavirus had "taken a heavy toll" on the island's firms.

Last month, a £100m package of measures was announced by the treasury minister to support businesses and individuals during the outbreak.

Enterprise minister Laurence Skelly said some businesses "may have fallen through the cracks", but his department was working to address gaps in the current schemes.

Mr Skelly added about 2,400 firms had applied for the £3,000 grants under the business support scheme and more than 1,000 of those had been processed.

Many of the island's businesses have been forced to close to help prevent the spread of the virus but are allowed to offer online and delivery services.