Paris, March 20 (AFP/APP): Layoffs, cutting costs and halting dividends… companies are scrambling to adapt as the coronavirus emergency hits demand while the draconian measures taken to contain the illness undercut production. With the economic impact of COVID-19 threatening the survival of many firms, governments have pledged hundreds of billions to help them limp along — or failing that, to bankroll outright rescues or nationalization if necessary. Here are some measures companies have taken: – Suspending production – Several industrial giants, in particular in the automobile industry, have reduced or even suspended production. America’s “Big Three” carmakers — General Motors, Fiat Chrysler and Ford — are temporarily halting operations throughout North America through the end of the month, the companies said in conjunction with the auto workers union. Most European carmakers, including Daimler, VW, BMW, Renault, Peugeot Citroen, and Fiat Chrysler have shut down most if not all of their manufacturing lines. Nissan and Ford have also shut facilities in Europe. Scania, part of Volkswagen’s Traton group, is halting most European truck production following disruptions in the supply chain. Tyre giant Michelin is halting production in Spain, France, and Italy for at least a week. Airbus said it was suspending … Continue reading Companies hit pause button as coronavirus infects economy