The new Corona virus has hit entire sectors in the global economy, foremost among which is aviation, the auto industry, distribution, energy and entertainment, as Disney announced the abolition of 28,000 jobs, and layoffs are only the visible part of the crisis.
According to the “French”, the epidemic has damaged many small companies, and silently eliminated many vulnerable jobs, and in May, two Latin American airlines, the Chilean-Brazilian “Latam” and the Colombian “Avianca”, placed themselves under protection US Bankruptcy Law.
Smaller companies, such as “South African Airways” and “Commer” from South Africa, the British “FlyBe”, and the Austrian and French “LEVEL” branches closed, and after declaring their bankruptcy, an American company bought the Australian giant “Virgin Australia”.
Other airlines continue to operate thanks to mass layoffs, such as American companies, American Airlines (more than 41,000 employees), Delta Airlines (more than 40,000), United Airlines (up to 36,000), and Germany. Lufthansa (22,000), Air Canada (at least 19,000), British Airways (12,000), and EasyJet 4,500.
Thousands of workers were affected by “Virgin Atlantic” (3150), “Air France” (7500), Australian “Qantas” (six thousand), Scandinavian “Scandinavian Airlines” (five thousand), and Irish “Ryanair” (3250) And Iceland Air (two thousand).
American Airlines and United Airlines announced that they may lay off 19,000 and 13,000 additional employees, respectively, starting from October 1 in the event that new government aid is not obtained.
To limit the damage, Germany came to the aid of Lufthansa and Condor, France and the Netherlands to support Air France-KLM, while Italy and Portugal chose to nationalize Alitalia and TAP.
As for aircraft manufacturing groups, Boeing intends to eliminate at least 16,000 jobs, Airbus 15,000 and Bombardier of Canada 2,500, while the American engine makers General Electric and Britain’s Rolls-Royce will cancel 12,600 and nine thousand jobs, while the French “Safran” group canceled ten thousand jobs in the world.
Several airports, including Paris, Copenhagen, Gatwick and Frankfurt, announced the layoffs of employees, and in the services sector at airports, the “Swissport” group will eliminate more than four thousand jobs in Britain.
In the tourism sector, TUI, the world’s first tour operator, will cut 8,000 jobs, and the hotel company Promier N will cut 6,000 jobs.
The auto industry has been severely affected since the virus emerged at the end of last year, as Renault’s announcement of the abolition of 15,000 jobs and the bankruptcy of the American Hertz car rental group in North America revealed the depth of the crisis in the sector.
These are not rare cases, as the German “BMW” group intends to cancel six thousand jobs, while “Nissan” has closed a factory that employs three thousand people in Barcelona. In Britain, he announced the abolition of more than six thousand jobs, especially for “Jaguar Land Rover”, “Aston Martin”, “Bentley” and “McLaren”.
The Swedish group “Volvo” for the production of cars has cut 4,100 jobs in the world, and the German “MAN” 9,500, including 3,500, due to the epidemic. At the equipment manufacturers, the French “Valeo” group announced the abolition of 12 thousand jobs, and the German “Mala” and “Scheffler” groups announced the abolition of 7,600 and 4,400 jobs respectively.
The distribution sector around the world is witnessing wholesale bankruptcy, as the virus has dealt a knockout blow to many brands, as the “INTO” group, which owns huge commercial centers in Britain, declared its bankruptcy, as well as the “Laura Ashley” British clothing group, the specialist in renting and buying household goods “Bright House” .
Marks and Spencer Group cut 7,000 jobs, Debenhams supermarkets 2,500 and Travis Perkins equipment group 2,500 jobs. In France, several brands in the apparel sector – La Halle, Andre, Nave Nave and Orchestra – Primaman – were placed under judicial custody before they were bought back after downsizing.
And in Germany, Karstaad Koffhof will cut 6,000 jobs. In the United States, major “Stage Stores” and two groups, “Jay C. Penny and Jay Crow”, declared bankruptcy, and “Estee Lauder” cosmetics group intends to cut up to 2,000 jobs.
In the restaurant sector, the German “Fabiano” restaurant network declared bankruptcy, while the British “The Restaurant Group” restaurants network closed 125 restaurants, thus eliminating three thousand jobs, while five thousand jobs are threatened by the “SSB” fast food group.
Other sectors have not escaped the consequences of the virus, as many of them have become weak and incapable of confrontation, as in the entertainment field, Disney announced the abolition of 28,000 jobs in the United States, and the American giant, MGM, of 18,000 jobs.
The energy sector is also facing problems due to declining demand. The giant “Schlumberger” group of oil services, based in Houston, intends to eliminate 21 thousand jobs, or a quarter of the number of workers in it. The British “BP” abolished ten thousand jobs, and the British-Dutch “Shell”, between seven and nine thousand jobs.
The British suppliers, Centrica and UFO, wrote off 5,000 and 2,600 jobs respectively, and the Texas exploration group Diamond of Shore and the American Whiting Petroleum Corporation filed for bankruptcy.
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