SWFI Daily Layoffs Briefing, April 30, 2020

Posted on 04/30/2020

Here are more layoffs tied to the economic impact of the Wuhan coronavirus (COVID-19) pandemic.

Qatar Petroleum

Qatar Petroleum plans a new round of job terminations in a bid to reign in operational costs.

Chesapeake Energy Corporation

Various media reports that Chesapeake Energy Corporation is prepping for a potential bankruptcy filing.

Ticketmaster North America

Ticketmaster North America has furloughed a quarter of its employees. These staffers will receive health benefits but otherwise lose their salaries starting May 1, 2020.

Enterprise Holdings

Rental car company Enterprise Holdings, headquartered in Clayton, terminated more 2,000 employees. The company announced furloughs in late March 2020.

Steel & Tube

Building products company Steel & Tube, a New Zealand-based company, plans to terminate up to 200 people.

Royal Dutch Shell

Royal Dutch Shell slashed its dividend for the first time since World War II. Furthermore, Shell suspended the next tranche of its share buyback program.

Thyssenkrupp

Thyssenkrupp secured a loan from German development bank KfW. The state aid is about 1 billion EUR.

J. Crew

Struggling with a heavy debt load, clothing apparel company J.Crew Group, Inc. is prepping for a bankruptcy filing. New York-based J. Crew had a hard time before the coronavirus pandemic, as it received criticism that its fallen out of touch with its once-loyal customers. In March 2011, J. Crew was acquired by TPG Capital and Leonard Green & Partners at US$ 43.50 per share in cash.