Business closures, job cuts, market crashes

Admin
Site Admin
Posts: 892
Joined: Wed Mar 20, 2019 9:35 pm

Business closures, job cuts, market crashes

Post by Admin »

This thread is for posts related to business collapse, including job cuts, company and store closures, market crashes, stimulus measures, civil unrest and the like.

To start, some coronavirus-related closures ...

Australia's Qantas airline has stood down without pay 20,000 of its 30,000 workers ... https://www.theguardian.com/business/20 ... 00-workers

Australia's Virgin airline has made staff take leave without pay ... https://www.theguardian.com/world/live/ ... pdate-news

Australia's Flight Centre booking agent closes 100 stores ... https://www.sbs.com.au/news/coronavirus ... -australia

How small businesses are hit ... https://quincy.wickedlocal.com/news/202 ... s-continue
Admin
Site Admin
Posts: 892
Joined: Wed Mar 20, 2019 9:35 pm

Business closures, job cuts, market crashes

Post by Admin »

A business-closure story about Wuhan early in the COVID pandemic (Jan 27), it may be predictive of closures about to happen elsewhere ... https://edition.cnn.com/2020/01/27/busi ... index.html
Admin
Site Admin
Posts: 892
Joined: Wed Mar 20, 2019 9:35 pm

Business closures, job cuts, market crashes

Post by Admin »

A list of closures in Memphis, this page gives an example of how small businesses are affected ... https://www.commercialappeal.com/story/ ... 055493002/
Admin
Site Admin
Posts: 892
Joined: Wed Mar 20, 2019 9:35 pm

Business closures, job cuts, market crashes

Post by Admin »

One trillion dollar USA stimulus package ... https://edition.cnn.com/2020/03/19/poli ... index.html
Admin
Site Admin
Posts: 892
Joined: Wed Mar 20, 2019 9:35 pm

Business closures, job cuts, market crashes

Post by Admin »

Largest stock market drop in history ... "The largest point drop in history occurred on March 16, 2020, when concerns over the ongoing 2019–20 coronavirus pandemic and the U.S. travel ban against the Schengen Area engulfed the market, dropping the Dow Jones Industrial Average 2,997 points. The largest point gain (+1,985) occurred on March 13, 2020. As of March 16, 2020, all of the top-5 and eight of the top-10 largest point drops have been amid the coronavirus pandemic."

For more information, Wikipedia ... https://en.wikipedia.org/wiki/List_of_l ... al_Average
Admin
Site Admin
Posts: 892
Joined: Wed Mar 20, 2019 9:35 pm

Business closures, job cuts, market crashes

Post by Admin »

The expected unemployment graph is vertical and not even vaguely similar to the previous GFC ... https://markets.businessinsider.com/new ... 16767?op=1
Admin
Site Admin
Posts: 892
Joined: Wed Mar 20, 2019 9:35 pm

Business closures, job cuts, market crashes

Post by Admin »

British Airways to suspend 36,000 staff ... https://www.bbc.com/news/business-52130021
Admin
Site Admin
Posts: 892
Joined: Wed Mar 20, 2019 9:35 pm

Business closures, job cuts, market crashes

Post by Admin »

Australia's Flight Centre now closing 428 of its 944 Australian stores ... https://www.news.com.au/finance/busines ... 84981aec9b

Around 6000 support and sales staff have been stood down out of the 20,000 workers.
Admin
Site Admin
Posts: 892
Joined: Wed Mar 20, 2019 9:35 pm

Business closures, job cuts, market crashes

Post by Admin »

UK retail giant Debenhams in trouble - 22,000 jobs may go ... https://www.mirror.co.uk/money/breaking ... g-21820542
Admin
Site Admin
Posts: 892
Joined: Wed Mar 20, 2019 9:35 pm

Business closures, job cuts, market crashes

Post by Admin »

Lufthansa mothballs big jets, says air travel recovery might take years ... https://krcrtv.com/news/nation-world/lu ... take-years
Post Reply