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Airlines Tell Employees to Prepare for Difficult Times Airlines Tell Employees to Prepare for Difficult Times
(32 minutes later)
This briefing is no longer updating. Read the latest developments in the coronavirus outbreak here.This briefing is no longer updating. Read the latest developments in the coronavirus outbreak here.
The $2 trillion stimulus bill that President Trump signed on Friday will prevent mass layoffs at the nation’s biggest airlines but it will not prevent a major restructuring of the industry.The $2 trillion stimulus bill that President Trump signed on Friday will prevent mass layoffs at the nation’s biggest airlines but it will not prevent a major restructuring of the industry.
The legislation provides $50 billion in grants and loans to airlines, money that is meant to cover employee paychecks and forestall job cuts until October. But even as they welcomed the help, airline executives told their employees to prepare for difficult times, saying they would still have to make tough decisions to get through the coronavirus outbreak and its aftermath.The legislation provides $50 billion in grants and loans to airlines, money that is meant to cover employee paychecks and forestall job cuts until October. But even as they welcomed the help, airline executives told their employees to prepare for difficult times, saying they would still have to make tough decisions to get through the coronavirus outbreak and its aftermath.
The pandemic could permanently alter the industry, United’s chief executive, Oscar Munoz, and president, Scott Kirby, warned employees in a memo on Friday. Also on Friday, Delta Air Line’s chief executive, Ed Bastian, asked his employees to consider taking unpaid leaves from the company.The pandemic could permanently alter the industry, United’s chief executive, Oscar Munoz, and president, Scott Kirby, warned employees in a memo on Friday. Also on Friday, Delta Air Line’s chief executive, Ed Bastian, asked his employees to consider taking unpaid leaves from the company.
“If the recovery is as slow as we fear, it means our airline and our work force will have to be smaller than it is today,” the United executives wrote in their memo.“If the recovery is as slow as we fear, it means our airline and our work force will have to be smaller than it is today,” the United executives wrote in their memo.
The airline warned that it planned to cut service next month by more than 60 percent and still expected its flights to be largely empty. As a result, United is likely to have to cut its schedule even more in May and June.The airline warned that it planned to cut service next month by more than 60 percent and still expected its flights to be largely empty. As a result, United is likely to have to cut its schedule even more in May and June.
Mr. Bastian, Delta’s chief executive, thanked the 21,000 Delta workers who have volunteered to take unpaid leave, but encouraged more to join them.Mr. Bastian, Delta’s chief executive, thanked the 21,000 Delta workers who have volunteered to take unpaid leave, but encouraged more to join them.
“While this assistance is welcome, it’s important to remember that the relief package is not a cure for the unprecedented challenges we face,” Mr. Bastian said.“While this assistance is welcome, it’s important to remember that the relief package is not a cure for the unprecedented challenges we face,” Mr. Bastian said.
On Thursday, American Airlines’ chief executive, Doug Parker, struck a slightly more optimistic tone in a recorded message for employees, saying that the stimulus and the cash available to the airline would allow it to “ride through even the worst of potential future scenarios.”On Thursday, American Airlines’ chief executive, Doug Parker, struck a slightly more optimistic tone in a recorded message for employees, saying that the stimulus and the cash available to the airline would allow it to “ride through even the worst of potential future scenarios.”
One airline chief executive, Gary Kelly of Southwest Airlines, went even further, saying he was not sure his company would end up taking any money from the government. “It gives us another option,” Mr. Kelly said. “We have opportunities to raise capital in the private markets and now we also have that opportunity with the federal government.”One airline chief executive, Gary Kelly of Southwest Airlines, went even further, saying he was not sure his company would end up taking any money from the government. “It gives us another option,” Mr. Kelly said. “We have opportunities to raise capital in the private markets and now we also have that opportunity with the federal government.”
Stocks fell on Friday as investors who initially cheered progress on the Washington’s aid package saw further economic trouble ahead.Stocks fell on Friday as investors who initially cheered progress on the Washington’s aid package saw further economic trouble ahead.
The package delivers direct payments and jobless benefits for individuals, money for states and a huge bailout fund for businesses battered by the crisis. President Trump signed it into law soon after trading ended on Friday.The package delivers direct payments and jobless benefits for individuals, money for states and a huge bailout fund for businesses battered by the crisis. President Trump signed it into law soon after trading ended on Friday.
The plan is the largest emergency spending program in the nation’s history, but some economists have said it might not be enough to counter the potentially enormous economic damage from the coronavirus pandemic. And investors also faced fresh evidence of the economic impact of the pandemic in the form of a consumer sentiment reading that showed a sharp drop in confidence.The plan is the largest emergency spending program in the nation’s history, but some economists have said it might not be enough to counter the potentially enormous economic damage from the coronavirus pandemic. And investors also faced fresh evidence of the economic impact of the pandemic in the form of a consumer sentiment reading that showed a sharp drop in confidence.
The S&P 500 dropped more than 3 percent on Friday. Stocks in Europe were also lower.The S&P 500 dropped more than 3 percent on Friday. Stocks in Europe were also lower.
The selling reflected caution ahead of the weekend, when bad news about the virus’s spread or further efforts to contain it could overtake the positive sentiment stirred up by the passage of the stimulus bill, Steven Ricchiuto, the chief economist at Mizuho, said in a note to clients.The selling reflected caution ahead of the weekend, when bad news about the virus’s spread or further efforts to contain it could overtake the positive sentiment stirred up by the passage of the stimulus bill, Steven Ricchiuto, the chief economist at Mizuho, said in a note to clients.
“After the stimulus bill passes, and households and companies begin waiting for the government money to start flowing, news stories will resume a more negative tilt,” Mr. Ricchiuto wrote.“After the stimulus bill passes, and households and companies begin waiting for the government money to start flowing, news stories will resume a more negative tilt,” Mr. Ricchiuto wrote.
All told, it was a relatively good week for stock investors. Even after Friday’s drop, the S&P 500 remains up more than 10 percent this week, after a three-day romp for stocks on Tuesday, Wednesday and Thursday.All told, it was a relatively good week for stock investors. Even after Friday’s drop, the S&P 500 remains up more than 10 percent this week, after a three-day romp for stocks on Tuesday, Wednesday and Thursday.
But the decline on Friday suggests that there is still little clarity on whether the worst is over for the market after weeks in which benchmark indexes collapsed amid violent swings.But the decline on Friday suggests that there is still little clarity on whether the worst is over for the market after weeks in which benchmark indexes collapsed amid violent swings.
“We were oversold and we bounced,” said Jeff James, a portfolio manager at Driehaus Capital Management in Chicago, crediting the optimism about actions from the Fed and optimism about Congress’ stimulus bill for the rally earlier in the week.“We were oversold and we bounced,” said Jeff James, a portfolio manager at Driehaus Capital Management in Chicago, crediting the optimism about actions from the Fed and optimism about Congress’ stimulus bill for the rally earlier in the week.
Still, he thinks that the underlying cause of the recent market turmoil, the spread of the virus, will continue to gnaw at investors in the near future. “We need to see the cases stabilize and come down and that could take some time,” said Mr. James, who invests in small and medium-size companies.Still, he thinks that the underlying cause of the recent market turmoil, the spread of the virus, will continue to gnaw at investors in the near future. “We need to see the cases stabilize and come down and that could take some time,” said Mr. James, who invests in small and medium-size companies.
Consumer sentiment tumbled in March as the coronavirus pandemic wiped out millions of jobs and erased trillions of dollars in market value.Consumer sentiment tumbled in March as the coronavirus pandemic wiped out millions of jobs and erased trillions of dollars in market value.
The University of Michigan’s index of consumer sentiment showed the fourth-largest monthly drop in the survey’s 41-year history, according to data released Friday.The University of Michigan’s index of consumer sentiment showed the fourth-largest monthly drop in the survey’s 41-year history, according to data released Friday.
Richard Curtin, chief economist for the survey, noted that two of the larger monthly drops — in October 2008 and December 1980 — presaged long and deep recessions. The other came after Hurricane Katrina ravaged the Gulf Coast in 2005. The coronavirus is in some ways the equivalent of a hurricane hitting the entire country at once.Richard Curtin, chief economist for the survey, noted that two of the larger monthly drops — in October 2008 and December 1980 — presaged long and deep recessions. The other came after Hurricane Katrina ravaged the Gulf Coast in 2005. The coronavirus is in some ways the equivalent of a hurricane hitting the entire country at once.
Sentiment fell even further at the end of the month, putting April on track for the steepest decline on record.Sentiment fell even further at the end of the month, putting April on track for the steepest decline on record.
“As with so much else related to this episode, the numbers are going to get worse before they get better,” Stephen Stanley, chief economist for Amherst Pierpont, wrote in a note to clients.“As with so much else related to this episode, the numbers are going to get worse before they get better,” Stephen Stanley, chief economist for Amherst Pierpont, wrote in a note to clients.
The sharp drop in confidence is hardly a surprise. But it is another troubling sign of how the pandemic is rippling through the economy. If the economic collapse leads to a pullback in spending even among consumers who have not lost jobs and income, that could set off a downward spiral that could be hard to pull out of even when the immediate threat of the virus has passed.The sharp drop in confidence is hardly a surprise. But it is another troubling sign of how the pandemic is rippling through the economy. If the economic collapse leads to a pullback in spending even among consumers who have not lost jobs and income, that could set off a downward spiral that could be hard to pull out of even when the immediate threat of the virus has passed.
A kind of caste system is developing around the coronavirus outbreak: the rich holed up in vacation properties; the middle class at home with restless children; the working class on the front lines of the economy, stretched by the demands of work and parenting, if there is even work to be had.A kind of caste system is developing around the coronavirus outbreak: the rich holed up in vacation properties; the middle class at home with restless children; the working class on the front lines of the economy, stretched by the demands of work and parenting, if there is even work to be had.
“This is a white-collar quarantine,” said Howard Barbanel, a Miami-based entrepreneur who owns a wine company. “Average working people are bagging and delivering goods, driving trucks, working for local government.”“This is a white-collar quarantine,” said Howard Barbanel, a Miami-based entrepreneur who owns a wine company. “Average working people are bagging and delivering goods, driving trucks, working for local government.”
As schools and day care centers close, many parents who cannot work from home are in a bind. Darlyne Dagrin, the mother of a 22-month-old in New Jersey, missed work twice this week when she could not find a friend or a relative to care for her son. She was told that “if you call out again, you’re out of a job.”As schools and day care centers close, many parents who cannot work from home are in a bind. Darlyne Dagrin, the mother of a 22-month-old in New Jersey, missed work twice this week when she could not find a friend or a relative to care for her son. She was told that “if you call out again, you’re out of a job.”
Updated June 5, 2020Updated June 5, 2020
So far, the evidence seems to show it does. A widely cited paper published in April suggests that people are most infectious about two days before the onset of coronavirus symptoms and estimated that 44 percent of new infections were a result of transmission from people who were not yet showing symptoms. Recently, a top expert at the World Health Organization stated that transmission of the coronavirus by people who did not have symptoms was “very rare,” but she later walked back that statement.
A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.A study by European scientists is the first to document a strong statistical link between genetic variations and Covid-19, the illness caused by the coronavirus. Having Type A blood was linked to a 50 percent increase in the likelihood that a patient would need to get oxygen or to go on a ventilator, according to the new study.
The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.The unemployment rate fell to 13.3 percent in May, the Labor Department said on June 5, an unexpected improvement in the nation’s job market as hiring rebounded faster than economists expected. Economists had forecast the unemployment rate to increase to as much as 20 percent, after it hit 14.7 percent in April, which was the highest since the government began keeping official statistics after World War II. But the unemployment rate dipped instead, with employers adding 2.5 million jobs, after more than 20 million jobs were lost in April.
Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.Mass protests against police brutality that have brought thousands of people onto the streets in cities across America are raising the specter of new coronavirus outbreaks, prompting political leaders, physicians and public health experts to warn that the crowds could cause a surge in cases. While many political leaders affirmed the right of protesters to express themselves, they urged the demonstrators to wear face masks and maintain social distancing, both to protect themselves and to prevent further community spread of the virus. Some infectious disease experts were reassured by the fact that the protests were held outdoors, saying the open air settings could mitigate the risk of transmission.
Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home.Exercise researchers and physicians have some blunt advice for those of us aiming to return to regular exercise now: Start slowly and then rev up your workouts, also slowly. American adults tended to be about 12 percent less active after the stay-at-home mandates began in March than they were in January. But there are steps you can take to ease your way back into regular exercise safely. First, “start at no more than 50 percent of the exercise you were doing before Covid,” says Dr. Monica Rho, the chief of musculoskeletal medicine at the Shirley Ryan AbilityLab in Chicago. Thread in some preparatory squats, too, she advises. “When you haven’t been exercising, you lose muscle mass.” Expect some muscle twinges after these preliminary, post-lockdown sessions, especially a day or two later. But sudden or increasing pain during exercise is a clarion call to stop and return home.
States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.States are reopening bit by bit. This means that more public spaces are available for use and more and more businesses are being allowed to open again. The federal government is largely leaving the decision up to states, and some state leaders are leaving the decision up to local authorities. Even if you aren’t being told to stay at home, it’s still a good idea to limit trips outside and your interaction with other people.
Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.Touching contaminated objects and then infecting ourselves with the germs is not typically how the virus spreads. But it can happen. A number of studies of flu, rhinovirus, coronavirus and other microbes have shown that respiratory illnesses, including the new coronavirus, can spread by touching contaminated surfaces, particularly in places like day care centers, offices and hospitals. But a long chain of events has to happen for the disease to spread that way. The best way to protect yourself from coronavirus — whether it’s surface transmission or close human contact — is still social distancing, washing your hands, not touching your face and wearing masks.
Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.Common symptoms include fever, a dry cough, fatigue and difficulty breathing or shortness of breath. Some of these symptoms overlap with those of the flu, making detection difficult, but runny noses and stuffy sinuses are less common. The C.D.C. has also added chills, muscle pain, sore throat, headache and a new loss of the sense of taste or smell as symptoms to look out for. Most people fall ill five to seven days after exposure, but symptoms may appear in as few as two days or as many as 14 days.
If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)If air travel is unavoidable, there are some steps you can take to protect yourself. Most important: Wash your hands often, and stop touching your face. If possible, choose a window seat. A study from Emory University found that during flu season, the safest place to sit on a plane is by a window, as people sitting in window seats had less contact with potentially sick people. Disinfect hard surfaces. When you get to your seat and your hands are clean, use disinfecting wipes to clean the hard surfaces at your seat like the head and arm rest, the seatbelt buckle, the remote, screen, seat back pocket and the tray table. If the seat is hard and nonporous or leather or pleather, you can wipe that down, too. (Using wipes on upholstered seats could lead to a wet seat and spreading of germs rather than killing them.)
Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.Taking one’s temperature to look for signs of fever is not as easy as it sounds, as “normal” temperature numbers can vary, but generally, keep an eye out for a temperature of 100.5 degrees Fahrenheit or higher. If you don’t have a thermometer (they can be pricey these days), there are other ways to figure out if you have a fever, or are at risk of Covid-19 complications.
The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.The C.D.C. has recommended that all Americans wear cloth masks if they go out in public. This is a shift in federal guidance reflecting new concerns that the coronavirus is being spread by infected people who have no symptoms. Until now, the C.D.C., like the W.H.O., has advised that ordinary people don’t need to wear masks unless they are sick and coughing. Part of the reason was to preserve medical-grade masks for health care workers who desperately need them at a time when they are in continuously short supply. Masks don’t replace hand washing and social distancing.
If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.If you’ve been exposed to the coronavirus or think you have, and have a fever or symptoms like a cough or difficulty breathing, call a doctor. They should give you advice on whether you should be tested, how to get tested, and how to seek medical treatment without potentially infecting or exposing others.
If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.If you’re sick and you think you’ve been exposed to the new coronavirus, the C.D.C. recommends that you call your healthcare provider and explain your symptoms and fears. They will decide if you need to be tested. Keep in mind that there’s a chance — because of a lack of testing kits or because you’re asymptomatic, for instance — you won’t be able to get tested.
And distance learning has posed a problem for those with spotty internet access, or none at all. “Online, everybody gets to be on the same page,” said Betsy Rubio, who lives in Texas with her 11-year-old. “But if not everyone has good internet, like my daughter, you don’t. I’m concerned about her falling behind.”And distance learning has posed a problem for those with spotty internet access, or none at all. “Online, everybody gets to be on the same page,” said Betsy Rubio, who lives in Texas with her 11-year-old. “But if not everyone has good internet, like my daughter, you don’t. I’m concerned about her falling behind.”
Google said it had removed the Infowars app from its Google Play store. The app is part of the media company owned by Alex Jones, a conspiracy theorist and conservative radio show host. Google removed the app on Friday after Mr. Jones posted a video disputing the need for social distancing and some of the isolation policies aimed at curbing the spread of the virus.Google said it had removed the Infowars app from its Google Play store. The app is part of the media company owned by Alex Jones, a conspiracy theorist and conservative radio show host. Google removed the app on Friday after Mr. Jones posted a video disputing the need for social distancing and some of the isolation policies aimed at curbing the spread of the virus.
Earlier this month, The New York State attorney general issued a cease-and-desist order to Mr. Jones because of false claims on his website that his diet supplements and toothpaste could be used to fight the coronavirus.Earlier this month, The New York State attorney general issued a cease-and-desist order to Mr. Jones because of false claims on his website that his diet supplements and toothpaste could be used to fight the coronavirus.
Google also said it was donating about $800 million in financial assistance to help small businesses secure capital and continue to advertise through the company. In a blog post on Friday, Sundar Pichai, chief executive of Google’s parent company, Alphabet, said it was providing $250 million in ad grants to more than 100 government agencies including the World Health Organization to disseminate information on how to prevent the spread of the coronavirus.Google also said it was donating about $800 million in financial assistance to help small businesses secure capital and continue to advertise through the company. In a blog post on Friday, Sundar Pichai, chief executive of Google’s parent company, Alphabet, said it was providing $250 million in ad grants to more than 100 government agencies including the World Health Organization to disseminate information on how to prevent the spread of the coronavirus.
In addition, the company said it was creating a $200 million investment fund to support nongovernmental organizations and financial institutions to provide capital to small businesses and was granting $340 million in ad credits to existing small and midsize business customers who have had an account with the company for more than a yearIn addition, the company said it was creating a $200 million investment fund to support nongovernmental organizations and financial institutions to provide capital to small businesses and was granting $340 million in ad credits to existing small and midsize business customers who have had an account with the company for more than a year
The coronavirus pandemic has created an immediate need for wealthy benefactors to fund nonprofit organizations that support people in health or economic distress.The coronavirus pandemic has created an immediate need for wealthy benefactors to fund nonprofit organizations that support people in health or economic distress.
More than a dozen philanthropists, including Connie and Steven Ballmer and Michael Bloomberg, offered tips on how to make the most of charitable giving in a time of crisis to ensure donations have the biggest impact.More than a dozen philanthropists, including Connie and Steven Ballmer and Michael Bloomberg, offered tips on how to make the most of charitable giving in a time of crisis to ensure donations have the biggest impact.
Let someone else do the vetting. Give to established funds that act as clearinghouses to distribute donations. They have the experience and knowledge to mobilize quickly in a crisis.Let someone else do the vetting. Give to established funds that act as clearinghouses to distribute donations. They have the experience and knowledge to mobilize quickly in a crisis.
Double down on regular charities. Money is rushing into coronavirus-related charities, but most other nonprofit groups are lacking in funds, too. Most have canceled their spring fund-raising galas, which can account for a significant part of their annual budgets.Double down on regular charities. Money is rushing into coronavirus-related charities, but most other nonprofit groups are lacking in funds, too. Most have canceled their spring fund-raising galas, which can account for a significant part of their annual budgets.
Speed up long-term giving plans. Some of the largest gifts are made over several years. Now is the time to accelerate those donations.Speed up long-term giving plans. Some of the largest gifts are made over several years. Now is the time to accelerate those donations.
Everlane, the apparel start-up, said on Friday that it was eliminating a large portion of its staff as it navigates the effects of the pandemic. The company said it cut 222 part-time retail and customer experience employees and furloughed 68 full-time retail employees. Affected staff received two weeks of severance pay. Everlane said it hoped to “build our team back as the economy improves.”Everlane, the apparel start-up, said on Friday that it was eliminating a large portion of its staff as it navigates the effects of the pandemic. The company said it cut 222 part-time retail and customer experience employees and furloughed 68 full-time retail employees. Affected staff received two weeks of severance pay. Everlane said it hoped to “build our team back as the economy improves.”
The food distribution company Sysco said on Friday that some of its employees who have been furloughed because of the coronavirus will have the option to work at Kroger locations for the next 30 days. Like many grocery stores, Kroger has seen a surge in demand over the last few week as panic-shopping customers have filled their shopping carts with shelf-stable supplies.The food distribution company Sysco said on Friday that some of its employees who have been furloughed because of the coronavirus will have the option to work at Kroger locations for the next 30 days. Like many grocery stores, Kroger has seen a surge in demand over the last few week as panic-shopping customers have filled their shopping carts with shelf-stable supplies.
Walt Disney World in Florida and Disneyland in California will remain closed “until further notice,” Disney said on Friday. Tens of thousands of hourly workers at the parks will be paid through April 18. NBCUniversal, which operates Universal Studios theme parks, said earlier this week that its domestic properties would stay closed until at least April 19.Walt Disney World in Florida and Disneyland in California will remain closed “until further notice,” Disney said on Friday. Tens of thousands of hourly workers at the parks will be paid through April 18. NBCUniversal, which operates Universal Studios theme parks, said earlier this week that its domestic properties would stay closed until at least April 19.
L Brands, the owner of Bath & Body Works and Victoria’s Secret, said on Friday that it would furlough most store associates “plus those who are not currently working to support the online businesses or who cannot work from home” starting April 5. Associates will receive pay and benefits through April 4. Senior executives will also take a pay cut.L Brands, the owner of Bath & Body Works and Victoria’s Secret, said on Friday that it would furlough most store associates “plus those who are not currently working to support the online businesses or who cannot work from home” starting April 5. Associates will receive pay and benefits through April 4. Senior executives will also take a pay cut.
The coronavirus could cause job cuts of more than one million workers in the global oil field services industry, according to a forecast from Rystad Energy. The Norway-based consulting firm estimated that the industry employs more than five million people, including drillers, engineers and technicians, and that firms will cut people because of plummeting demand, low prices for oil and safety reasons.The coronavirus could cause job cuts of more than one million workers in the global oil field services industry, according to a forecast from Rystad Energy. The Norway-based consulting firm estimated that the industry employs more than five million people, including drillers, engineers and technicians, and that firms will cut people because of plummeting demand, low prices for oil and safety reasons.
The average national price for gasoline fell on Friday to a penny under $2 a gallon for the first time since March 2016, according to GasBuddy, the travel and navigation app. Gasoline prices have been falling steadily since late February as the coronavirus outbreak has curtailed business and leisure driving.The average national price for gasoline fell on Friday to a penny under $2 a gallon for the first time since March 2016, according to GasBuddy, the travel and navigation app. Gasoline prices have been falling steadily since late February as the coronavirus outbreak has curtailed business and leisure driving.
Reporting was contributed by Noam Scheiber, Nelson D. Schwartz, Tiffany Hsu, Ben Casselman, Sapna Maheshwari, Stanley Reed, Clifford Krauss, David E. Sanger, Niraj Chokshi, Natasha Singer, David Streitfeld, Daisuke Wakabayashi, Mary Williams Walsh, Vindu Goel, Amie Tsang, Carlos Tejada, Kevin Granville and Daniel Victor.Reporting was contributed by Noam Scheiber, Nelson D. Schwartz, Tiffany Hsu, Ben Casselman, Sapna Maheshwari, Stanley Reed, Clifford Krauss, David E. Sanger, Niraj Chokshi, Natasha Singer, David Streitfeld, Daisuke Wakabayashi, Mary Williams Walsh, Vindu Goel, Amie Tsang, Carlos Tejada, Kevin Granville and Daniel Victor.