These Industries Are Likely to Lay People off if the Covid-19 WorsensBy Jonathan K March 26, 2020
As things stand, the rapid conquest of the COVID-19 has really affected pretty much everything on the planet.
From schools to stocks to the entertainment segment, every business has suffered. However, the ramifications on individuals are even graver. Many companies are likely to part ways with a major chunk of their workforce if the endemic isn’t controlled.
A lot of industries are going to be severely impacted by this sad situation.
Resorts & Amusement Parks
Resorts, theme parks and amusement parks have already been sealed shut with reports emerging that the likes of Disney and MGM are going to layoff, several employees.
It remains to be seen when these places will open up so this is the industry that’s definitely going to cut down its cost by laying off people against some severance.
Since pretty much every state around the globe has already or is close to sealing its borders, the tourism industry is going to take a hit that was last seen during the six years of the Second World War.
Countries such as China, Singapore, Thailand, Malaysia, Indonesia and several other exotic places are already experiencing an alarming decrease in tourists so a lot of layoffs are definitely going to happen in the coming weeks.
Caesars Entertainment Corp. one of the most famous casinos and hotel chains in the world has already begun laying off employees and several other casinos are going to follow suit.
With COVID-19 wreaking havoc, there would be reduced demand for such services.