More evidence continues to make it clear that the economic recovery is not a “super V” as Trump claims. Over the past 48 hours alone, companies have announced tens of thousands of layoffs of American workers as Trump fails to get the pandemic under control and continues to hold up a deal on economic relief.
28,000 jobs lost — NBC News: “Disney laying off 28,000 workers amid continued strain from pandemic”
19,000 jobs lost — Washington Post: “American Airlines was the first to announce its plans, saying it would begin furloughing 19,000 employees.”
13,000 jobs lost — Washington Post: “A similar message came from United, which said it will be forced to furlough roughly 13,000 employees starting Thursday.”
3,8000 jobs lost — Wall Street Journal: “Allstate Corp., one of the U.S.’s largest home and car insurers, announced Wednesday that it plans to lay off 3,800 employees in claims, sales and support roles.”
2,000 jobs lost — MarketWatch: “Marathon Petroleum Corp. said late Wednesday it will lay off more than 2,000 employees as it looks to cut costs amid less demand for gasoline and other oil derivatives with the ongoing pandemic.”
400 jobs lost — Bloomberg: “Goldman Sachs Group Inc. is resuming job cuts as the coronavirus pandemic outlasts the financial industry’s resolve to offer jittery employees stability through the economic downturn. The firm is embarking on a plan to eliminate about 1% of its workforce, or roughly 400 positions, according to people with knowledge of the matter, who asked not to be identified as the information isn’t public.”
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