Slovak shared service centers are set to withstand the current crisis
Globally, shared service centers have lost 15-20% of their business last year due to the pandemic-induced recession, reckons Peter Rusiňák from the US Chamber of Commerce. The Slovak centers of AT&T and Johnson Controls have already announced redundancies, and IBM aims to cut 10,000 jobs in Europe. Rusiňák thinks the competition of cheaper Asian countries and Slovakia’s economic policies have a very limited impact on the Slovak layoffs. IT sector is facing the biggest headwinds as many companies stopped investing. Laid off workers will easily find new jobs. The Slovak centers have a relatively high value added that are set to withstand the current crisis.