Retail job losses highest on record as coronavirus wreaks havoc on economy

Retail job losses highest on record as coronavirus wreaks havoc on economy

Monday, May 25, 2020 | Tag Cloud Tags: coronavirus, Economy, News, virus, Washington, Worthy News
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(Worthy News) – The already struggling retail industry has experienced catastrophic layoffs amid the coronavirus pandemic that are hitting historic levels.

During the first few months of 2020, retailers have slashed more than 114,000 jobs, which far outpaces annual job cuts in the industry, as well as beating the previous high of 101,000 in 2003, according to CBS News.

Andrew Challenger, senior vice president of global outplacement and executive coaching firm Challenger Gray & Christmas, referred to the retail cut as “astronomical.” [ Source: Washington Examiner (Read More…) ]

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