The United States has seen historic levels of unemployment during the coronavirus pandemic, as many companies are forced to let their staff go. From small businesses going under to large corporations trimming fat, more Americans than ever have lost their jobs, or are in danger of losing them soon. Economists and other experts are scrambling to see ahead on these trends.
The coronavirus pandemic has sent the economies of the world spiraling, struggling to stay afloat in an age of uncertainty and caution. With most of the population practicing social distancing as much as possible, many service industry companies are unable to make a living, and anything that involves public congregations — from travel to live entertainment — is in jeopardy as well. Already, millions of Americans are claiming unemployment, and there are months to go before this crisis is over.
So far, some companies or whole industries have averted disaster thanks to government bail-outs and other maneuvering. However, things are expected to continue on this trend for a while to come, and many are looking for an answer about whether or not their livelihood is in danger.
Here are some of the biggest companies with layoffs still to come in the coronavirus pandemic.
According to a report by Forbes, one of the precarious sectors economists are watching right now is airline travel. Delta Airlines and American Airlines have both already cut flights, frozen hiring and delayed training new employees, and experts say more dire measures may be coming soon. Air Canada, Norwegian Air and Scandinavian Airlines have already had some huge layoffs, and the U.S. could follow suit.prevnext
The U.S. has already seen massive layoffs at at least seven major airports so far. Philadelphia International Airport, Orlando International Airport and Baltimore-Washington International Thurgood Marshall Airport have all reportedly seen considerable layoffs among airport staff.
At Miami International Airport, the two companies that handle concessions, Global Miami Joint Venture and Airport Concessions Group, laid off 758 people in total between the two of them. Similarly, a company called OTG has laid off over 1,200 workers. OTG provided staffing for restaurants in New York City's Laguardia International Airport and John F. Kennedy International Airport, as well as New Jersey's Newark International Airport.prevnext
Hotels all over the world have already seen layoffs in droves, and more are coming. According to Forbes, Marriott international expects "tens of thousands" of workers to be furloughed, and many to be laid off as well.prevnext
MGM Resorts reportedly intends to begin layoffs on Monday, April 13, along with plenty of furloughs as well. The company has already let some employees go, it said, but not from where. Many hotels and chains have already conducted massive layoffs, seeing little application for their services during this time.prevnext
Cirque du Soleil
According to Forbes, Cirque du Soleil has plans to lay off about 95 percent of its staff — 4,679 people in total. It is unclear how many of these are performers and how many might work behind the scenes, but either way it will leave a big void in the Montreal area, where the company is based.prevnext
Finally, while museums and other cultural centers are trying to stay relevant with virtual offerings during this pandemic, it is clear that they cannot operate at their previous levels. According to Forbes, about 300 workers across three museums in Massachusetts will be laid off over the remainder of this month. That includes the Massachusetts Museum of Contemporary Art, the Normal Rockwell Museum and the Hancock Shaker Village.prevnext
The layoffs and furloughs listed above follow in the heels of many others around the country and around the world since the coronavirus hit. Experts say that they cannot even accurately determine how many restaurant workers in New York City are currently out of work, but about 300,000 people were working in the dining industry there, for example.
All told, about 50 percent of companies in the U.S. are reportedly considering layoffs because of the coronavirus. A total of about 10 million Americans filed for unemployment in March, and the apex of the virus is still far out. For the latest information on the coronavirus pandemic, visit the CDC's website.prev