The coronavirus outbreak has triggered unprecedented mass layoffs and furloughs. Here are the major companies that have announced they are downsizing their workforces.
New York's Metropolitan Opera is the largest performing arts organization in the US by budget. On March 19, the Met laid off all of its union employees for the duration of the coronavirus outbreak. The Met also announced the cancellation of all performances through the end of the 2019-2020 season, which was set to end May 9.
Danny Meyer opened his first restaurant, Union Square Cafe, in 1985 at age 27, and went on to found Shake Shack, which is not currently part of the USHG portfolio.Pebblebrook Hotel Trust, which owns over 50 hotels in the US including the W in Los Angeles, laid off 50% of its 8,000 employees on March 17. CEO Jon Bortz also told the Los Angeles Times that the company may need to lay off an additional 2,000 employees by the end of the month.
Arne Sorenson at a meeting with President Donald Trump discussing the economic response to the coronavirus outbreak on March 17, 2020.
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