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 a few months, over 50 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 major airlines, businesses such as ride-share company Uber and hotel giants Hilton and Marriott have announced furloughs.
Here’s a roundup of the major companies who have announced downsizing their workforce due to the coronavirus thus far.
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Kohl’s is cutting 15% of its corporate workforce. The unspecified cuts will save the company $65 million annually, according to a September 15 securities filing.
Customers walk outside of a Kohl’s store in Colma, California in November 2019.
AP Photo/Jeff Chiu, File
Source: Wall Street Journal
Dell told employees on September 14 that it will start eliminating an unspecified number of jobs in an effort to cut costs, according to Bloomberg.
The logo for Dell Technologies Inc. is displayed on a screen on the floor of the New York Stock Exchange.
Reuters
Source: Bloomberg
Citigroup will continue laying off roughly 1% of its global workforce, the company announced on September 14. The cuts end a previous commitment to pause layoffs amid the pandemic.
The Citigroup logo is seen at the SIBOS banking and financial conference in Toronto in 2017.
Reuters
Source: Bloomberg
United Airlines announced on September 2 that it will furlough 16,370 employees once federal aid expires on October 1.
A United Airlines check-in counter in Atlanta.
David Goldman/AP Photo
In a July 30 internal memo, United Airlines said it would furlough a third of its pilots — 3,900 people. The airline had announced on July 8 that it would issue layoff and furlough notices to 36,000 employees, including 2,250 pilots and 15,000 flight attendants. Before that, in a leaked May 4 memo, United Airlines said it expected to lay off at least 30% or some 3,400 employees on its administrative staff.
Sources: Business Insider, Chicago Tribune, Business Insider, The Points Guy, Business Insider
Ford is offering buyouts to 1,400 workers eligible for retirement this year in the US. The September 2 cuts make up just under 5% of the company’s US workforce.
Story continues
Ford vehicles lined up in a factory.
REUTERS/Kamil Krzaczynski
Source: Wall Street Journal
MGM Resorts is laying off 18,000 previously furloughed employees starting August 28.
The Bellagio hotel and casino, an MGM resort, is seen along the Las Vegas strip.
Reuters
Source: CNBC
Coca-Cola said it plans to offer voluntary-separation packages to 4,000 employees in North America on August 28. It did not specify the total number of employees it plans to layoff.
Boxes of Coca-Cola are seen at a grocery store in Los Angeles.
Reuters
Source: Wall Street Journal
Salesforce started to lay off 1,000 of 54,000 employees on August 26, according to the Wall Street Journal. The news comes one day after the company posted record sales. In March, CEO Marc Benioff pledged a 90-day freeze on layoffs.
Marc Benioff, Salesforce CEO & cofounder.
Salesforce
Source: Wall Street Journal
On August 25, American Airlines, which previously announced cutting 20% of the company’s workforce, said that it would cut 19,000 employees in October when federal aid ends.
Employees watch as American Airlines Flight 903 prepares for take off from Miami in 2016.
Joe Raedle/Getty Images
Source: CNBC
Delta Airlines plans to furlough 1,941 pilots in October following the expiration of federal aid, the company said on August 24.
FILE PHOTO: Delta Air Lines passenger planes parked in Birmingham
Reuters
Source: CNN
In April, Boeing committed to cutting its massive staff by 10%. In an August 17 memo, Boeing told employees it was starting a second round of buyout offers that would extend beyond the original expected numbers.
A Boeing 787 Dreamliner being constructed at Boeing’s Everett, Washington plant.
Robert Sorbo/Reuters
Source: Wall Street Journal
WarnerMedia started layoffs on August 10. The first round of cuts are expected to impact 600 employees, mostly at Warner Bros. The cuts include top executives.
The Warner Bros. film studio lot in Burbank, California.
AaronP/Bauer-Griffin/GCImages via Getty Images
Source: Business Insider, Deadline
AT&T laid off an additional 54 people in its marketing division on August 6, after laying off 3,400 employees in June.
AT&T CEO John Stankey.
John Lamparski / Stringer
Source: Business Insider
NBCUniversal started layoffs on August 4, impacting its broadcast networks, movie studio, and theme parks. The company is expected to cut less than 10% of its 35,000-person workforce.
The NBC Universal logo on one of the company’s Los Angeles buildings.
Associated Press
Source: Wall Street Journal
Spirit Airlines is preparing to furlough 20-30% of its workforce, according to a July 28 internal memo. Those at risk include pilots and flight attendants.
AP Photo/Keith Srakocic
Source: Reuters
L Brands, the parent company of Victoria’s Secret and Bath & Body Works, said it would lay off 15% of its workforce on July 28. The job cuts impact 850 people at the company’s Columbus, Ohio, headquarters.
A shot from the Victoria’s Secret annual fashion show.
Dimitrios Kambouris/Getty Images
Source: Business Insider
Creative Artists Agency, a major Los Angeles talent firm, announced layoffs on July 28. It will layoff 90 agents and furlough 275 assistants — or nearly 20% of its workforce.
The CAA headquarters in Los Angeles, California.
Creative Artists Agency
Source: Los Angeles Times, Billboard
Oilfield services company Schlumberger said it is cutting roughly 21,000 jobs on July 24. It also reported second-quarter losses of $3.4 billion.
A Schlumberger building in Houston, Texas.
Reuters
Source: Wall Street Journal
Daimler, the company that owns Mercedes-Benz, may cut 30% of its global workforce, Manager Magazine reported on July 22.
A logo of a car at the Mercedes Benz automobile assembly plant.
AP Photo/Pavel Golovkin, Pool
Source: Manager Magazine, TeleTrader
Tailored Brands, the parent company behind Men’s Wearhouse and Jos. A. Bank, said it expects to layoff 20% of its workforce and shutter 500 stores on July 21.
A Men’s Wearhouse storefront.
Getty/ Andrew Burton
Source: Business Insider
LinkedIn said it would cut 960 jobs, or 6% of its global workforce, on July 21. The cuts will impact hiring and sales positions.
LinkedIn CEO Ryan Roslansky.
Kelly Sullivan/Getty Images for LinkedIn
Source: Reuters
Instead of involuntary layoffs, Southwest Airlines offered extended leave and exit packages. As of July 20, 28% of its workforce — mostly pilots and flight attendants — have accepted such deals.
Justin Sullivan / Getty Images
Source: Reuters
On July 15, American Airlines said that it will soon layoff 25,000 workers, including 9,950 flight attendants and 2,500 pilots. The cuts represent almost 20% of the company.
An American Airlines flight taking off.
REUTERS/Mike Blake
Source: Business Insider
Department store JC Penney announced that it would shutter 152 stores and lay off 1,000 jobs in corporate and field management on July 15. The company filed for bankruptcy in May and furloughed thousands in April.
The clearance section in a JC Penney store.
Business Insider/Jessica Tyler
Source: Reuters, Business Insider
PVH Corp, the company that owns Calvin Klein and Tommy Hilfiger among other brands, announced that it is shuttering 162 stores and cutting 450 jobs, or 12% of its workforce, on July 14.
A Calvin Klein advertisement.
Photo by Noam Galai/Getty Images
Source: Business Insider
On July 9, Bloomberg Law reported that Wells Fargo is preparing to cut thousands of jobs out of its 263,000-person workforce.
A Wells Fargo ATM bank.
Robert Alexander/Getty Images
Source: Reuters, Bloomberg Law
Walgreens said it plans to cut 4,000 jobs on July 9, after reporting a $1.7 billion loss in the third quarter.
A shuttered Walgreens location in New York City.
Reuters
Source: Bloomberg, Business Insider
Levi’s, the denim company, announced on July 7 it was slashing 700 jobs. The cuts account for 15% of its total workforce.
A Levi’s display.
Shoshy Ciment/Business Insider
Source: Business Insider
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.
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% of its global workforce — across the US and Europe on June 17.
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.
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 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 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 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.
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.
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 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 747-700.
Louis Nastro/Reuters
Source: Business Insider
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.
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.
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.
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.
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’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.
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.
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’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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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 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.
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 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 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.
An SAS airbus.
Nicolas Economou/NurPhoto/Getty
Source: Forbes
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Topics #announced #companies #coronavirus #downsizing #furloughs #layoffs #major #mass #outbreak #triggered #unprecedented #workforces
