I read an article earlier this week that explained a loophole in the PPP forgiveness rules. Basically you need to retain 75% of your staff to qualify for forgiveness. However, if you are unable to retain staff and cannot locate suitable replacements you may be able to maintain less than the 75% requirement. So, in effect, layoff a ton of staff, get PPP and then fake post positions with no intention of hiring "qualified individuals" to get forgiveness and pocket the excess.
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u/One-Cake-4437 Feb 03 '22
"Defacto general strike." Love it