Intellizence tracks the latest layoff, downsizing, employee termination, furlough announcements from multiple news and regulatory filings. Following is the highlight of a few major layoffs of the week ending July 18th, 2020.
JCPenney – The retailer is cutting about 1,000 jobs and shut-down 152 stores as the US department store chain looks to emerge from Chapter 11 protection and the COVID-19 crisis.
OYO – The India-based company, which has its U.S. headquarters in Dallas, is planning to lay off about 90 percent of its U.S. workforce, most of whom were furloughed in April amid declining revenue due to COVID-19.
Boyd Gaming Corp. – The company has laid off at least 2,500 Nevada employees affecting anywhere between 25 percent of employees. The company had approximately 10,000 employees in Nevada.
Cebu Pacific Air – The airline will lay off more than 800 employees across the group by August 2020, the equivalent of 25% of the carrier’s workforce.
Textron Aviation – The aviation company laid off around 800 workers. Most of those workers were employed at facilities in Wichita. The company says it is adjusting to “evolving global economic uncertainty and existing market conditions.”
Burberry – British fashion house Burberry PLC announced on Tuesday that it will lay off as many as 540 employees, or about 9% of its workforce.
Lufthansa Cargo – The airline will shed 500 jobs worldwide as parent firm Lufthansa slashes costs and resizes the business.