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Unemployment corona virus

The coronavirus outbreak has triggered unprecedented mass layoffs and furloughs. Here are the
major companies that have announced they are downsizing their workforces.
Taylor Borden and Allana Akhtar

https://www.businessinsider.com/coronavirus-layoffs-furloughs-hospitality-service-travel-unemployment-2020

People gather at the entrance for the New York State Department of Labor offices on March 20,
which closed to the public due to the coronavirus outbreak in the Brooklyn borough of New
York City.
Andrew Kelly/Reuters

The spread of the coronavirus is projected to impact millions of jobs worldwide.

In just 14 weeks, roughly 47 million Americans have filed for unemployment insurance —
that's more than the number of claims filed during the Great Recession.
The travel and hospitality industries have taken a significant hit. In addition to several airlines,
major businesses like ride-share company Uber and hotel giants Hilton and Marriott have all
announced furloughs.
Here's a roundup of the major companies who have announced downsizing their workforce
due to coronavirus thus far.
Visit Business Insider's homepage for more stories.

This is a developing story. Check back for updates.

While Macy's furloughed the majority of its workforce in March, it announced it would lay off
about 3,900 corporate workers on June 25.
Northgate Mall Macys
A Macy's storefront in a Seattle mall in July 2019. Irene Jiang / Business Insider

Source: Business Insider

HSBC, Europe's biggest bank, announced plans to cut 35,000 jobs — or 15% o its global
workforce — across the US and Europe on June 17.
A woman wearing a protective face mask walks past a logo of HSBC bank at the financial and
business district of La Defense near Paris as France begun a gradual end to a nationwide
lockdown due to the coronavirus disease (COVID-19), May 11, 2020. REUTERS/Gonzalo
Fuentes
A woman walks past an HSBC bank amid the coronavirus pandemic in Paris, France on May 11,
2020. Reuters
Source: Business Insider, Wall Street Journal

On June 16, a union representing AT&T employees said the wireless carrier will lay off 3,400
and shut down more than 250 stores.
AT&T
People walk past the AT&T store in New York's Times Square, June 17, 2015. Brendan
McDermid/Reuters

Source: Business Insider

Hilton Hotels announced it is laying off 2,100 corporate employees on June 16, amounting to
22% of its corporate workforce.
The logo of Hilton hotel is seen in Batumi, Georgia, May 2, 2016. REUTERS/David
Mdzinarishvili/File Photo
The Hilton Hotel in Batumi, Georgia in 2016. Reuters

Source: CNN

Chevron, the second-largest oil producer in the US, announced that it will cut 10% to 15% of its
45,000 global workforce on May 27.
A Chevron gas station sign is pictured at one of their retain gas stations in Cardiff, California
October 9, 2013. REUTERS/Mike Blake
A Chevron gas station sign is shown at one of their retain gas stations in Cardiff, California.
Reuters

Source: Reuters

Boeing said it would lay off nearly 7,000 employees on May 27. The company initially
announced that it would cut about 10% of its workforce on April 29. The company had 143,000
workers at the beginning of the year.
Workers enter the Boeing Renton Factory as commercial airplane production resumes following
a suspension of operations last month in response to the coronavirus pandemic as efforts
continue to help slow the spread of the coronavirus disease (COVID-19) in Renton, Washington,
U.S. April 21, 2020. REUTERS/Jason Redmond
Workers enter the Boeing factory in Renton, Washington on April 21, 2020, as commercial
airplane production resumes following a suspension of operations in response to the coronavirus
pandemic. Reuters

Source: Business Insider, Business Insider

IBM will eliminate "several thousand jobs" as of May 22, mainly in the company's technology-
services division. Cuts come a month after new CEO Arvind Krishna withdrew IBM's financial
outlook amid economic uncertainty caused by the pandemic.
ibm ceo Arvind Krishna
IBM CEO Arvind Krishna. Photo by Brian Ach/Getty Images for Wired

Source: Business Insider

Weeks after ride-hailing giant Uber announced it is cutting 3,700 jobs (14% of its workforce),
CEO Dara Khosrowshahi announced on May 18 that he will cut 3,000 additional jobs and close
45 offices.
Dara Khosrowshahi Uber Reuters
Uber CEO Dara Khosrowshahi. Carlo Allegri/Reuters

Source: Business Insider, WSJ

Airbnb announced it is laying off about 25% of its workforce, or 1,900 employees, on May 5. Its
severance package includes several months' pay, a year of healthcare, and support finding a new
job.
A woman talks on the phone at the Airbnb office headquarters in the SOMA district of San
Francisco, California, U.S., August 2, 2016. REUTERS/Gabrielle Lurie
A woman talks on the phone at the Airbnb office headquarters in San Francisco. Reuters

Source: Business Insider

Richard Branson's Virgin Atlantic announced it would cut 3,150 jobs on May 5, in addition to
retiring its iconic Boeing 747-700 planes a year early.
Virgin Atlantic Boeing 747
Virgin Atlantic Boeing 747-700. Louis Nastro/Reuters

Source: Business Insider

In a leaked May 4 memo, United Airlines said it expects to lay off at least 30% or some 3,400
employees on its administrative staff on October 1.
United Airlines
United Airlines planes at George Bush Intercontinental Airport in Houston. ASSOCIATED
PRESS

Source: Business Insider, Chicago Tribune

Ride-hailing company Lyft is laying off 982 employees and furloughing another 288, accounting
for 17% of the company's workforce. The company made the announcement on April 29 and
added that other cost-cutting measures include pay cuts for executive leadership.
FILE - In this July 9, 2019, file photo a Lyft ride-share car waits at a stoplight in Sacramento,
Calif. Ride-hailing service Lyft's annual loss more than doubled last year to over $2.6 billion, but
the company claimed progress as revenue jumped 68% and ridership grew. (AP Photo/Rich
Pedroncelli, File)
A Lyft ride-share car waits at a stoplight in Sacramento, California in July 2019. Associated
Press

Source: Business Insider

On April 28, online travel company TripAdvisor announced it was laying off more than 900 of
its employees, amounting to a quarter of its workforce.
tripadvisor
A TripAdvisor sign on a storefront, a ubiquitous site at tourist spots around the world.
Shutterstock

Source: Business Insider

Hertz said it plans to lay off 10,000 employees on April 20. The car rental company previously
employed 38,000 people.
The logo of the American car rental company Hertz is seen at the Nantes-Atlantique airport in
Bouguenais near Nantes, western France, April 7, 2016. REUTERS/Stephane Mahe
A sign displaying the Hertz logo. Reuters

Source: Reuters

On April 12, a union representing workers at Walt Disney World said the company will be
furloughing 43,000 employees starting April 19. The amusement parks have been closed since
March 16 and 200 essential workers will continue maintaining them.
disney world magic kingdom
Walt Disney World's Magic Kingdom in January 2020. AP Photo/John Raoux

Source: New York Times, Vox

On April 7, Tesla sent an email to employees saying it will furlough all nonessential workers
until at least May 4, and reduce all employees' pay by at least 10%. These cost-cutting measures
are expected to start April 13.
Tesla Fremont
Tesla's factory in Fremont, California. David Butow/Corbis News via Getty Images

Source: Business Insider, CNBC

JCPenney has already started furloughing workers and confirmed it would continue to furlough
a "significant portion" of its 85,000 employees as of April 5.
JCPenney exterior
The exterior of a JCPenney store. Shoshy Ciment/Business Insider

Source: JCPenney, Business Insider

On April 3, Under Armour announced that it will temporarily lay off about 6,700 employees
starting April 12.
Under Armour
An Under Armour store. Alex Tai/SOPA Images/LightRocket via Getty Images

Source: Baltimore Sun

The Wing, a buzzy Instagram-ready women's coworking company, is laying off nearly all of its
hourly employees and half of its corporate staff as of April 3, according to Vice. The company
confirmed the layoffs but did not elaborate on numbers. Its founders are foregoing their salaries.
The Wing, Dumbo
The Wing's Dumbo location in Brooklyn, New York. Sarah Jacobs/Business Insider

Source: Vice

ClassPass, the billion-dollar fitness platform, furloughed or laid off over half of its 700
employees on April 2 — 22% were laid off and 31% were furloughed.
fritz lanman ceo classpass
ClassPass CEO Fritz Lanman. Diarmuid Greene/Sportsfile via Getty Images

Source: CNBC

On April 2, airplane manufacturer Boeing announced that it would offer a voluntary layoff plan
to employees to cut costs. Those opting into the layoff plan will leave with a pay and benefits
package, but the company offered no details about compensation.
boeing factory plane
A Boeing employee works on a 747-8 Intercontinental airplane at the Boeing factory in Everett,
Washington. Stephen Brashear/Getty

Source: Business Insider

Famed auction house Sotheby's is furloughing 200 people — or 12% of its workforce —as of
April 1, according to the Wall Street Journal.
art auction painting Sotheby's Lichtenstein
Sotheby's employees carry a painting by Roy Lichtenstein called 'Two Paintings with Dado,
1983' during a press view at the auction rooms in London. Kirsty Wigglesworth/AP

Source: Wall Street Journal

Sephora laid off over 3,000 employees across the US via conference call on March 31. "It is our
sincerest hope that we are able to bring these employees back on staff in the near future,"
Sephora said in a statement.
People walk into a Sephora store in Times Square in the Manhattan borough of New York, New
York, U.S. April 2, 2017. REUTERS/Carlo Allegri/File Photo
A Sephora store in New York City's Times Square. Reuters

Source: Business Insider

Macy's CEO Jeff Gennette informed his staff via email that the company would be furloughing
most of its 125,000 employees on March 30. The company only plans to have work for "the
minimum number of employees necessary to maintain basic business operations" across Macy's,
Bloomingdale's, and Bluemercury, Gennette wrote. He will stop receiving his salary, along with
the rest of the board of directors.
Macy's
A Macy's store in New York City. REUTERS/Andrew Kelly

Source: Business Insider, CNN

Bird, the buzzy electric scooter company, laid off 30% of its staff via a Zoom call on March 27.
The call lasted only around 2 minutes.
Bird Scooter
A Bird electric scooter. Mike Blake/Reuters

Source: Business Insider

Everlane, the clothing retailer focused on ethical sourcing, laid off over 200 employees and
furloughed 68 others on March 27. CEO Michael Preysman will reduce his salary to zero.
EverlaneIMG_5869
A pair of Everlane jeans. Jessica Tyler/Business Insider

Source: Vice

ZipRecruiter laid off 443 employees and furloughed dozens more on March 27, days after CEO
Ian Siegel said the billion-dollar online job-hub company was safe.
Ian Siegel ZipRecruiter
Ian Siegel founded ZipRecruiter in 2010 and serves as the company's CEO. ZipRecruiter

Source: Business Insider

Sonder, a billion-dollar apartment-rental startup billed as a hospitality industry disruptor, laid off
or furloughed 400 people — one third of its workforce — on March 24, according to The
Information.
sonder apartment nyc
A Sonder apartment in New York City. Katie Warren/Business Insider

Source: The Information

GE announced that it will be reducing approximately 10% of its aviation unit's workforce,
amounting to about 2,500 employees, on March 23. It also announced a three month furlough
impacting 50% of its maintenance and repair employees. GE CEO Larry Culp will forgo his
salary for the rest of the year, while GE Aviation CEO David Joyce will give up half of his
salary.
General Electric GE Aviation
The logo of General Electric is shown at its subsidiary company GE Aviation in Santa Ana,
California on April 13, 2016. Mike Blake/Reuters

Source: GE, Wall Street Journal

According to the Washington Post, at least 200 workers across President Trump's hotels in
Washington DC, New York City, and Las Vegas were laid off as of March 20. Other Trump
properties, like Palm Beach's Mar-a-Lago, have temporarily closed.
Mar a Lago
A police boat patrols in front of U.S. President Donald Trump's Mar-a-Lago estate in Palm
Beach, Florida, U.S., February 17, 2019. Kevin Lamarque/Reuters

Source: Washington Post, Business Insider

Air Canada announced it is set to lay off more than 5,100, or 50%, of its flight crew on March
19. Renee Smith-Valade, the airline's vice president, called the decision "difficult but necessary"
in a statement.
Air Canada
An Air Canada aircraft. JOERG KOCH/AFP/Getty Images

Source: CBC

Cirque du Soleil announced it is laying off 95% of its 4,679 person staff on March 19, a week
after canceling all its upcoming performances. The circus producer kept 259 staffers to plan and
sell tickets for future tours.
Cirque du Soleil
Artists perform during a dress rehearsal for Quidam, a show by Cirque du Soleil, at the Royal
Albert Hall in London January 4, 2014. REUTERS/Luke MacGregor

Source: Cirque du Soleil, Forbes

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.
Metropolitan Opera, Lincoln Center
The Metropolitan Opera in Lincoln Center at dusk. Siegfried Layda/Getty Images
Source: NPR

Famous restaurateur Danny Meyer's Union Square Hospitality Group, which owns beloved NYC
staples like Gramercy Tavern, laid off 2,000 employees, or 80% of its workforce, on March 18.
Danny Meyer
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. AP Photo

Source: Business Insider

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.
The W Hollywood
The W Hollywood. Tiffany Rose/Getty Images for Third Street Media Group

Source: Los Angeles Times

Marriott International, the world's largest hotel company, said it has started to furlough what
could amount to tens of thousands of employees on March 17. Furloughs, as opposed to layoffs,
occur when employees are required to take an unpaid leave of absence. Arne Sorenson, the
president and CEO, announced that his own salary will be suspended for the rest of the year and
senior executives' salaries will be reduced by 50%.
Arne Sorenson - Marriott CEO
Arne Sorenson at a meeting with President Donald Trump discussing the economic response to
the coronavirus outbreak on March 17, 2020. Drew Angerer/Getty Images

Source: Wall Street Journal, Business Insider, Business Insider

Norwegian Airlines announced the temporary layoff of 90% of its workforce on March 16,
amounting to 7,300 employees. The airline also canceled 85% of its flights.
norwegian air
Norwegian aircrafts. Johan Nilsson/TT via AP

Source: Reuters

Scandinavian Airlines (SAS) announced that it would temporarily lay off 10,000 employees —
90% of its staff — on March 15. SAS also halted the majority of its flights and is operating with
limited service.
SAS Airbus A320neo
An SAS airbus. Nicolas Economou/NurPhoto/Getty

Source: Forbes