Macy's will be putting the majority of its 130,000 workers on furlough, company says.
The government will provide eight weeks of payroll to small businesses, Treasury Secretary Steven Mnuchin told Fox Business on Monday, for a total of around $350 billion.
The economy will likely surge back by June, Mnuchin said, adding that the stock market with"absolutely" return to its previous highs. For long-term investors, the U.S. is still a great bet, he said, echoing the message frequently disseminated by Larry Kudlow, President Donald Trump's top economic adviser.
Facebook will give $25 million in emergency grant funding for local news through the Facebook Journalism Project and $75 million in additional marketing spend in select news outlets., depriving news outlets of much-needed revenue and raising existential questions about the long-term health of the industry, particularly at the local level.Spain surpasses China's total number of cases
The U.S. currently has the most confirmed coronavirus cases with 142,801 infections. Italy is second with 97,689 coronavirus cases.Birx predicts up to 200,000 deaths if U.S. acts 'almost perfectly'The White House coronavirus response coordinator said Monday that she is"very worried about every city in the United States" and projects 100,000 to 200,000 American deaths as a best case scenario.
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Macy's Furloughs Most Of Its 130,000 WorkersCiting the pandemic's 'heavy toll' on its business, Macy's says it's furloughing the majority of its employees. Its stores have been closed since March 18 and there's no sign when they will reopen.
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Macy's to furlough most of 130,000 employees as stores stay shutMacy's Inc said on Monday it would furlough most of its 130,000-strong workforce starting this week as all stores of the department chain operator have been temporarily shut due to the coronavirus pandemic.
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Macy's to furlough majority of its 130,000 workersNEW YORK (AP) — Macy's will furlough a majority of its 130,000 workers with its stores dark. The company on Monday said it is transitioning to an ‘’absolute minimum workforce' needed to...
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Macy’s Will Furlough The Majority Of Its 125,000 EmployeesThe department store said the majority of its sales have evaporated as a result of temporary store closures.
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Macy's will furlough the majority of its 125,000 employeesMacy's is furloughing a majority of its 125,000 employees because of the ongoing coronavirus pandemic, which has sunk sales and forced it close to its stores.
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