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Most big companies ‘totally support’ vaccine mandate: CNBC survey

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On Tuesday, August 10, 2021, a healthcare worker administered a dose Pfizer BioNTech Covid-19 to a student at the ‘Vax To School Campaign Event’. This was held at the Staten Island Borough of New York.

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From Companies CVS HealthTo Tyson FoodsTo WalmartMany C-suite executives are still concerned about how Covid outbreaks might impact their businesses and have mandated vaccines to workers.

CNBC Global CFO Council poll for the fourth quarter, 2021 found that chief financial officers see a Covid-19-related outbreak as the most serious external risk to their business.

Members of the Advisory Board ranked Covid-19 as the most externally risky factor for the quarter. CNBC Global CFO CouncilThe Council represents some of the most important public and private businesses in the world. Survey results from the fourth quarter were collected from all 35 Council members between September 20 and 29.

CNBC Global CFO Council members ranked inflation and cyber attacks as the top external risks in the first quarter of 2021. Those concerns came alongside Colonial Pipeline paying a $5 million ransom after cybercriminals hacked its IT network in June, and the continued supply chain issues that have impacted seemingly all industries.

Push for vaccine mandates

U.S. President Joe Biden has focused on vaccine mandatesThe Delta variant has seen a surge in popularity. Biden directed federal workers and contractors to get vaccinated last month. He also asked private employers to make it mandatory for employees with more than 100 workers to receive a weekly test.

The White House estimates that the mandate will affect approximately two-thirds U.S. workforce and would apply to 100 million workers.

Biden’s directive has been adopted by many companies, and workers were told that they could be fired for not following the rules. CNBC’s survey found that 80% of U.S. CFOs support the Biden administration’s mandate. Less than 25% said that they completely oppose it.

IBMThey told U.S. employees last week that they must be fully vaccinated by Dec. 8You could be suspended without pay

The memo was sent this week to all employees. “As federal contractors, it’s imperative that IBM comply with this mandate.” We will require that all IBM U.S. employees be fully vaccinated in light of the requirements of the policy of many of our partners and clients, as well as the availability of vaccines throughout the country.

American Airlines Alaska Airlines JetBlue AirwaysHave all required employees to adhere to the following guidelines: vaccinated following Biden’s mandateWhile United AirlinesThe company in August informed 67,000 U.S. workers that the fall was mandatory or they would be fired. According to the company, last week was “a good time” for them. just 320 employees had not done so

JetBlue told staff that “regardless of working in the operation, a support center, or at home – will be required by the government to be fully vaccinated for COVID-19 to continue performing their role,” JetBlue’s CEO Robin Hayes and COO Joanna Geraghty said in an employee email.

Tyson FoodsMore than 120,000 American workers are employed by. According to the company, more than 90% of its workforce has now been vaccinated, with that figuring doubling in the last two months.

U.S. Centers for Disease Control and Prevention Director Rochelle Walensky reported Wednesday that while hospitalizations and case numbers have decreased on an average for the nation over the past week, deaths (which is considered a lag indicator) are still stable at 1,400 per daily. The pandemic has claimed the lives of more than 700,000.

Supply chain, labor market and concerns

Companies of every size are concerned that vaccine mandates will make it harder for them to recruit the right workers.

According to the survey, 45 percent of U.S. chief financial officers said labor market irregularities is a greater concern than either inflation or disruptions in supply chains. This number has not changed in the past two quarters.

The number of Americans without jobs has outnumbered those with job openings.

Supply chain disruptions are far more important than concerns about worker shortages for CFOs from other regions. Together, 44% of the CFOs who responded to this survey stated that it was their greatest concern.

Industry-wide supply chain problems have affected industries as far as booksellers to pumpkin patches. The backup at the Port of Los Angeles, the busiest cargo port in North America, has caused container shipsTo wait more than 10 days on average to unload cargo.

Like Companies Nike McCormick & CompanyRecently, supply chain problems have been identified as a major problem for many businesses.

During, Matt Friend, chief financial officer at Nike, spoke its first-quarter earnings conference call last month that the company anticipates its entire business will see short-term inventory shortages over the next few quarters.

“We have already lost 10 weeks’ worth of production. This gap will only continue. It will take several months to get back to full production. Analysts will need to wait several months before production can be resumed at full capacity,” Friend said. According to him, the government is closing approximately 80% Nike footwear factories in Vietnam as it tries to combat Covid-19.

More than 80% Asia-based CFOs responded to the CNBC survey stating that Covid is the largest external risk.

McCormick lowered its full-year forecastLast week’s adjusted earnings per share were based on supply chain challenges and price pressures.

The supply chain is the real limiting factor in our business. Demand is extraordinarily high for all of our products both on the consumer side … but also for our flavor solutions and flavor systems business,” McCormick & Company CEO Lawrence Kurzius said in an interview on “Mad Money.”

Kurzius stated that transportation and logistic issues are the single factor that limits our ability to get products from A-B. 

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