The looming second wave of layoffs
1 big thing
Axios
4.0 • 2K Ratings
🗓️ 1 October 2020
⏱️ 9 minutes
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| 0:00.0 | Good morning. Welcome to Axios today. It's Thursday the 1st of October. I'm Naila Boodoo. |
| 0:09.0 | Here's how we're making you smarter today. COVID patients are entering Wisconsin hospitals at record rates. |
| 0:17.0 | Plus America's other oncoming nightmare, the election. |
| 0:21.0 | But first, the looming wave of airline layoffs is today's one big thing. |
| 0:28.4 | The travel and tourism industry has been hit hard this week. On Tuesday Disney announced a decision to lay off 28,000 people. |
| 0:37.0 | And today the federal stimulus plan that's providing payroll support to the airlines is set to expire. |
| 0:43.0 | And we're already starting to see the effects. |
| 0:45.4 | American Airlines was the first to announce last night |
| 0:48.0 | they will begin furloughing 19,000 employees today. |
| 0:52.0 | Joanne Mueller covers transportation for Axios. |
| 0:54.7 | Joanne, if Congress can't come up with an extension to this program, |
| 0:58.4 | what more is at stake here? |
| 1:00.4 | The airlines have said they will begin laying off as many as 50,000 employees, flight |
| 1:06.1 | attendance and pilots and ticket clerks, mechanics, operations folks. |
| 1:12.2 | It's very grim unless Congress comes through with an extension for that |
| 1:16.5 | airline payroll support program. |
| 1:19.0 | And how likely is that extension? |
| 1:20.4 | This is tied to all of the stimulus package negotiations. |
| 1:24.0 | There seems to be really bipartisan support for helping the airline industry stay afloat because |
| 1:30.8 | it's so critical to the economic recovery. |
| 1:34.3 | The problem is that it's getting wrapped up |
| 1:37.1 | in the negotiations on other relief programs. |
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