One of the few times that I've been glad that I work for a nonprofit that gets 95%+ of our money from city and state grants. Between later on this year and next year, I have designs of leaving for a CFO position as I'm a controller now.
What we are going to do now is instead of a 5% COLA increase, we are going to use some of the PPP funds to give that to us upfront next week, a 5% of my salary check. No complaining but this helps the company in the long run because of the suppression of the increase for a year Because many grantors don't want us to double dip on funds to claim, we can't spend down all of the money, even with the threshold change from 75% to 60% for payroll. Across our next fiscal, it will save the company roughly $300k.
For the for-profit business that haven't picked up in any substantial way, yeah, they are letting people go. They are paying people with 'free' money now, it stops being free and becomes a loan if you don't extend by the end of the month.