Facebook invests additional $100 million in local journalism to support reporting on the pandemic. Emergency grant funding of $25 million will go to local news and another $75 million will be devoted to media marketing.
has dealt a shock to the global economy with unprecedented speed. Following are developments on Monday related to the global economy, the work place and the spread of the virus.service is asking airline cabin crew who have been laid off to go to work in temporary new hospitals being built to treat COVID-19 patients.
Rent the Runway confirmed that it laid off its entire retail staff and is not sure whether stores will reopen. The layoffs were announced via video conference on Friday, the company said. Workers will be getting severance and two months of. It's unknown how many employees will be affected. The company's online subscription service continues. The job cuts were first reported by online news website Verge.
Dine-in restaurants like Olive Garden and Applebee’s reported sales declines of 71% compared to the same period last year. Fast food sales fell 34%. Marriott International — the world’s biggest hotel chain — has furloughed about two-thirds of its 4,000 corporate employees. Hilton plans furloughs or reduced hours for much of its corporate staff starting next week.
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