SWFI Daily Layoffs Briefing, May 8, 2020

Posted on 05/08/2020

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

John Varvatos Enterprises

Men’s fashion company John Varvatos Enterprises Inc. filed for Chapter 11 bankruptcy protection from creditors. Private equity firm Lion Capital LLC is a creditor of New York-based John Varvatos Enterprises. Varvatos listed more than US$ 140 million of debt in court filings in Delaware.

Cinemark USA, Inc.

Cinemark USA, Inc. has furloughed 50% of its headquarter employees and reduced the work hours of the remaining employees due to a 50% pay reduction. Additionally, the company has temporarily closed its corporate headquarters and issued a work from home policy.

White House

The White House is looking for a Phasse 4 Coronavirus Stimulus package. The Trump administration is encouraging the U.S. House of Representatives to reconvene. U.S. President Donald Trump mentioned the U.S. coronavirus death toll may be 95,000 or more.

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