Business Fallout: Marriott to furlough thousands of workers
Source: AP
The rapid worldwide spread of the coronavirus since it was first revealed in China less than three months ago has dealt an unparalleled shock to the global economy.
Following are weekend business developments related to the outbreak as governments attempt to stabilize their economies, companies navigate through an altered landscape, and millions of people face job losses and interrupted goods and services.
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MARRIOTT FURLOUGHS: Marriott International Inc. said that it will furlough thousands of corporate employees at its U.S. headquarters and globally. The decision, first reported by The Wall Street Journal Sunday, adds to massive recent payroll reductions that began last week.
The world’s largest hotel company, like many of its peers, is trying to cope with a plunge in demand due to the coronavirus.
People walk outside the Marriott Long Wharf hotel, Wednesday, March 11, 2020, in Boston. Seventy of Massachusetts' first 92 confirmed coronavirus cases have been linked to a meeting of Biogen executives that was held at the hotel in late February 2020. For most people, the virus causes only mild or moderate symptoms, such as fever and cough. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia. The vast majority of people recover from the new virus. (AP Photo/Steven Senne)
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