The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to national and global response, the work place and the spread of the virus.
TRAVEL & LEISURE: Boeing said this week that it’s gone another month without a single airplane order, cruise ships are devoid of passengers and gasoline prices are plunging because few people are commuting to work or taking road trips. Global travel is close to a standstill.
— One of the biggest tourism companies in the world is cutting 8,000 jobs and will try to slash spending by about 30%. TUI CEO Fritz Joussen said Wednesday that a partial resumption of business could begin by June or early July in areas where testing is taking place or in regions that have been cleared by governments.
The company employs between 60,000 and 70,000 people depending on the season.
Source news reuters.com, click here to read the full news.