COVID-19: World layoffs, May 8: John Varvatos, Cinemark USA,
Posted on 05/08/2020
Here are more layoffs tied to the economic impact of the Wuhan coronavirus (COVID-19) pandemic.
John Varvatos Enterprises
Men’s fashion company John Varvatos Enterprises Inc. filed for Chapter 11 bankruptcy protection from creditors. Private equity firm Lion Capital LLC is a creditor of New York-based John Varvatos Enterprises. Varvatos listed more than US$ 140 million of debt in court filings in Delaware.
Cinemark USA, Inc.
Cinemark USA, Inc. has furloughed 50% of its headquarter employees and reduced the work hours of the remaining employees due to a 50% pay reduction. Additionally, the company has temporarily closed its corporate headquarters and issued a work from home policy.
White House
The White House is looking for a Phasse 4 Coronavirus Stimulus package. The Trump administration is encouraging the U.S. House of Representatives to reconvene. U.S. President Donald Trump mentioned the U.S. coronavirus death toll may be 95,000 or more.SWFI
https://www.swfinstitute.org/news/79532/swfi-daily-layoffs-briefing-may-8-2020