- 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.
- Visit Business Insider's homepage for more stories.
This is a developing story. Check back for updates.
Source: BloombergUnited Airlines announced on September 2 that it will furlough 16,370 employees once federal aid expires on October 1.
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.
Source: Wall Street JournalMGM Resorts is laying off 18,000 previously furloughed employees starting August 28.
Source: CNBCCoca-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.
Source: Wall Street JournalSalesforce 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.
Source: Wall Street JournalOn 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.
Source: CNBCDelta Airlines plans to furlough 1,941 pilots in October following the expiration of federal aid, the company said on August 24.
Source: CNNIn 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.
Source: Wall Street JournalWarnerMedia 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.
Source: Business InsiderNBCUniversal 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.
Source: Wall Street JournalSpirit 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.
Source: ReutersL 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.
Source: Business InsiderCreative 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.
Source: Wall Street JournalDaimler, the company that owns Mercedes-Benz, may cut 30% of its global workforce, Manager Magazine reported on July 22.
Source: Business InsiderLinkedIn said it would cut 960 jobs, or 6% of its global workforce, on July 21. The cuts will impact hiring and sales positions.
Source: ReutersInstead 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.
Source: ReutersOn 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.
Source: Business InsiderDepartment 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.
Source: Business InsiderOn July 9, Bloomberg Law reported that Wells Fargo is preparing to cut thousands of jobs out of its 263,000-person workforce.
Source: Business InsiderWhile Macy's furloughed the majority of its workforce in March, it announced it would lay off about 3,900 corporate workers on June 25.
Source: Business InsiderHSBC, 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.
Source: Business InsiderHilton Hotels announced it is laying off 2,100 corporate employees on June 16, amounting to 22% of its corporate workforce.
Source: CNNChevron, 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.
Source: ReutersBoeing 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.
Source: Business InsiderWeeks 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.
Source: Business InsiderRichard 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.
Source: Business InsiderRide-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.
Source: Business InsiderOn April 28, online travel company TripAdvisor announced it was laying off more than 900 of its employees, amounting to a quarter of its workforce.
Source: Business InsiderHertz said it plans to lay off 10,000 employees on April 20. The car rental company previously employed 38,000 people.
Source: ReutersOn 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.
Source: Baltimore SunThe 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.
Source: ViceClassPass, 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.
Source: CNBCOn 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.
Source: Business InsiderFamed auction house Sotheby's is furloughing 200 people — or 12% of its workforce —as of April 1, according to the Wall Street Journal.
Source: Wall Street JournalSephora 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.
Source: Business InsiderMacy'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.
Source: Business InsiderEverlane, 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.
Source: ViceZipRecruiter 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.
Source: Business InsiderSonder, 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.
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.
Source: CBCCirque 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.
Source: NPRFamous 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.
Source: Business InsiderPebblebrook 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.
Source: Los Angeles TimesMarriott 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%.
Source: ReutersScandinavian 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.