Hit hard by the coronavirus crisis and with new government stimulus funding in limbo, Disney, American Airlines and United Airlines announced 60,000 layoffs in just 24 hours — leading a barrage of job losses a month before US elections.
Insurance firm Allstate warned Wednesday that it would have to cut 3,800 jobs, and Marathon Petroleum is slashing more than 2,000 jobs — 12 percent of its workforce.
No sector is expected to be spared in the wave of layoffs and furloughs.
Financial giant Goldman Sachs is cutting what it called a “modest” total of about 400 people, ending a moratorium on job reductions that it imposed as the pandemic took hold.
New jobless claims data from the Labor Department did not brighten the picture, with 837,000 new