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The bank is also offering more conventional part-time work to reduce payroll costs.
"It will reduce payroll costs for employers and help with fraud and error.
Retailers can also reduce payroll costs because fewer employees are needed.
Most teams are expected to reduce payroll in anticipation of a lockout the next season.
For an individual earning $110,000, that provision would reduce payroll taxes by $2,136.
Historically, most companies used furloughs to reduce payroll costs during recessions.
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This has allowed firms to reduce payrolls during the downturn while keeping hold of skilled employees.
To cut costs and reduce payrolls, airlines have increasingly sent maintenance work out to contractors in recent years.
Corporate mergers, global competition, and executive incentives tied to stock performance have encouraged companies to close inefficient plants, reorganize production, and reduce payrolls.
The survey respondents estimated storms and cold cost the economy 32,000 jobs in December, 25,000 in January and would reduce payrolls by 19,000 this month.
"Governments in the region have had to reduce payrolls through structural adjustment programs imposed by certain development banks" and often "priorities for funding health and education professionals come higher than specialized skills required for different climate change projects," Ronneberg explained.
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