Millions of layoffs are coming, hotels, airlines, and retailers warn

Hotels, airlines, and retail industry associations have warned that unless hundreds of billions of dollars in emergency funds are made available to combat the economic impact of the coronavirus, millions of workers will soon be laid off. A pop-up plea greets visitors to the website of the American Hotel and Lodging Association, begging them to ask the government to save the jobs of an industry that employs 4% of working Americans. In Portland, Oregon, Jason Dondero said he had already laid off about 80% of the roughly 40 people who worked at the restaurant he manages, the Seasons & Regions Seafood Grill, as it tries to survive on the takeout orders of customers sheltering from the pandemic. A sister restaurant called the Ugly Fish is shuttered, along with perhaps half the restaurants in the Portland area, he added. Read more at Barron’s.

Leave a Reply

Your email address will not be published. Required fields are marked *