WORLD US companies announce new job cuts

WORLD

US companies announce new job cuts

People's Daily app

19:14, October 02, 2020

Major US companies announced massive job cuts in response to the protracted uncertainty caused by the COVID-19 pandemic, sparking new anxiety over the country’s already battered economy.

On September 30, US media reported companies including Disney, Royal Dutch Shell Allstate, and Marathon Petroleum announced widespread layoffs.

Disney said it would eliminate 28,000 jobs mostly at its two US theme parks in Florida and California due to the long-term closure during the outbreak.

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(Photo: agencies)

Marathon Petroleum announced new plans to begin extensive layoffs after shutting down refineries in California and New Mexico earlier in August and firing 800 staff. Royal Dutch Shell will cut 7,000 to 9,000 jobs by the end of 2022.

Economists remained uneasy about the coming months, as the US economy was left buffeted after a prolonged downturn worsened by the COVID-19 pandemic.

(Compiled by Liu Tianzi)

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