“This is Venezuela — they’re very disorganized with these types of things,” said Alejandro Grisanti, the director of the Caracas-based research firm Ecoanalitica. “Every day, it’s harder for them to pay.” The government had another $237 million in interest payments come due Saturday, and the National Public Credit Office has yet to announce their payment. A delay in those payments would bring the total in arrears to $587 million. Source Bloomberg
An estimated 28,637 cuts were reported in the industry by late October, Variety, citing data from Challenger, Gray & Christmas, reported, nearly as many as the record 28,803 reported in the media sector in 2008. By comparison, the sector saw just over 10,000 job losses in 2019 and 15,474 in 2018. Source The Hill
Walt Disney Co said on Wednesday it would lay off about 32,000 workers, primarily at its theme parks, an increase from the 28,000 it announced in September, as the company struggles with limited customers due to the coronavirus pandemic. Source EconomicsTimes
Southwest Airlines warned 6,800 employees Thursday they may be furloughed in the spring, the airline told CNN.
If the layoffs do take place, they would be the first in the carrier’s nearly 50-year history. Source 11 News
