REUTERS
At the same time, 62% of the respondents said their companies had managed to keep their employees' pay unchanged.
Almost 60% of Ukrainian companies will need up to 12 months to recover and achieve pre-quarantine revenue.
"Some 20% of entrepreneurs say it will take six months to achieve a pre-quarantine revenue level, while 39% believe it will take them about a year," according to findings of a survey of 105 top managers from European Business Association (EBA) member companies.
"Another 17% think it will take two years, and 7% say it will take more than two years," the survey said.
It was conducted on May 12-21.
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In addition, 36% of the companies surveyed said they had lost up to 20% of revenue for the two months of the coronavirus-related lockdown, another 28% said it was 20-50%, and 18% lost 50-75% of revenue. Only 11% said they had no changes, and 3% were able to increase revenue by up to 20%.
At the same time, 62% of the respondents said their companies had managed to keep their employees' pay unchanged. Some 23% of the companies had to cut wages.
About 82% of the companies surveyed kept their staff unchanged, while 11% were forced to lay workers off.
According to the study, 62% of directors said they were considering an option of full or partial change in the operating mode, switching to remote work. Companies are planning to introduce remote work on a regular basis.
Most of the companies surveyed are ready to resume offline work or return to office in the near future, 35% in May and 34% in June, respectively.
As UNIAN reported earlier, the Ministry for Development of Economy, Trade and Agriculture predicts Ukraine's gross domestic product (GDP) will drop by 4.2% in 2020. However, there will be economic growth at the level of 2.4% in 2021.
S&P Global Ratings predicts a 5.5% decline in Ukraine's economy in 2020 with its subsequent recovery by 5% in 2021, and further by 3% in 2022.