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Layoffs and Furloughs on the Horizon

The weak jobs report didn’t take into account a new wave of layoffs and furloughs that are threatening to grind the economic recovery to a halt. Disney said it will lay off 28,000 workers in its theme parks division who have been furloughed since the spring. Two-thirds of those positions are part-time. Disney blamed the pandemic — as well as California restrictions that have kept Disneyland closed — for the cuts, one of the biggest reductions in a single company’s headcount since the lockdowns started. Between American and United Airlines, another 30,000-plus employees are being furloughed as federal employment protections ran out on Oct. 1. The airlines hinted that they could recall at least some of those employees if lawmakers reach a deal to bail out the industry. The insurance giant Allstate is cutting 3,800 heads, the textbook publisher Houghton Mifflin Harcourt is laying off 22 percent of its workforce, and a major hotel trade group is warning that the industry is facing imminent collapse, with as many as two-thirds of all hotels likely to close within six months if they don’t receive federal aid. Read more via Cheddar.com

Pemo Theodore

Pemo Theodore is a Media Publisher and a great people connector. She is Founder Silicon Valley TV which has served the San Francisco Bay Area for 12 years! She has produced Silicon Valley Events for Investors & Startups for 10 years. Pemo loves to video interview venture capitalists & founders to engage the human behind the success stories.. She has been Executive Producer of FinTech Silicon Valley for 6 years, organizing twice monthly FinTech talks & panels in San Francisco & Palo Alto and audio podcasts. She believes in learning through a great discussion with experts in the domains. Pemo has a talent to bring the right people together and is an incredible networker. Pemo's events have been seen as supporting Venture Capitalists & Angels in sourcing great deal flow from startups who attend her events. Many founders have received funding through meeting investors at her events. Her favored medium is audio & visual media and she has built up a great body of work of videos of panels & interviews and podcasts in Silicon Valley startup ecosystem. She has lived & worked in Canada, Australia, Ireland, London, Northern Ireland, New Zealand & Silicon Valley. Bio https://pemo.one

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