U.S. Companies Lose Hope for Quick Rebound

Wall Street Journal: “Big U.S. companies are deciding March and April moves won’t cut it. The fierce resurgence of Covid-19 cases and related business shutdowns are dashing hopes of a quick recovery, prompting businesses from airlines to restaurant chains to again shift their strategies and staffing or ramp up previous plans to do so. They are turning furloughs into permanent layoffs, de-emphasizing their core businesses and downsizing production indefinitely.”