Layoffs begin to hit travel industry; pant, bra sales tumble

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Tuesday related to national and global response, the work place and the spread of the virus.

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TRAVEL & LODGING: Hotels, rental cars, cruises, flights, anything associated with getting away from it all, is on hold. Quarterly numbers from airlines and the rest of the travel industry this week and last were abysmal. Job cuts have begun.

— Hyatt will begin laying off about 1,300 people next month. The hotel chain has slashed costs through pay cuts for executives as well as work and pay reductions for workers, but it has not been enough to staunch the bleeding.

— Brussels Airlines will let 25% of its workers go as part of a massive cost-cutting plan. The Lufthansa subsidiary in Belgium, which employs 4,000 people, has suspended its flights and plans to reduce its fleet from 54 to 38 aircraft as part of its restructuring.

— Ryanair will begin operating nearly 1,000 daily flights starting in July — assuming government restrictions on flights within Europe are lifted. The budget airline will restore 90% of its pre-COVID-19 route network. The airline has been operating with a skeleton schedule since mid-March, with some 30 flights daily between Ireland, the UK and Europe.

GOVERNMENTS & CENTRAL BANKS: The U.S. is trying to determine how best to reopen the economy while limiting risk. There have been red flags from nation's that have already attempted to do so.

— People in Singapore will be able to get professional haircuts or pop into the bakery Tuesday as the government loosens restrictions, three weeks before a partial lockdown ends. Barbers and hairdressers, food manufacturers and outlets as well as laundry...