Life in a pandemic; massive job cuts, lots of homemade bread
The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to central governments, the work place and the spread of the virus.
JOB LOSSES: The pandemic jolted the global economy and millions of jobs have been lost. Those cuts continue daily.
— A memo from the CEO of long-haul carrier Qatar Airways that was was leaked online suggests upcoming layoffs will be “substantial.” The airline has not said publicly how many jobs will be lost.
The email said layoffs would include cabin crew. The Doha-based carrier is one of the three major airlines in the Persian Gulf region created to capitalize on East-West travel.
PREPARING FOR AFTER: Companies, countries, cities and towns are in varying states of recovery from the first wave of the coronavirus.
— Germany has cleared the way for restaurants and remaining shops to reopen in the coming weeks, but it will put restrictions back into place if new infections exceed a predetermined number. Infections have declined significantly in recent weeks.
Chancellor Angela Merkel said Wednesday that people will be allowed to meet in public with members of another household. Germany’s soccer league, the Bundesliga, will be allowed to resume play in the second half of May.
— Russia is reopening all industrial plants and construction sites in Moscow next week. President Vladimir Putin said Wednesday that it will be up to officials in other regions to determine if it’s possible to ease lockdown measures that have been in place since the end of March.
Russia has registered 165,929 coronavirus cases, including 1,537 deaths.
— The U.S. Treasury is reporting massive amounts of borrowing.
EARNINGS SEASON: Companies are offering...