- The spread of the coronavirus is plunging the global economy into recession . Coronavirus related unemployment claims are already rising and expected to explode in the coming weeks.
- According to Markets Insider, the number of jobless claims for the week ending March 14 totaled 281,000 , exceeding economist estimates for 220,000. In a week's time, Goldman Sachs anticipates the number of jobless claims could explode to a record 2.25 million.
- The travel and hospitality industries are already being hit the hardest three airlines including Air Canada have already announced a reduction in workforce and Marriott, the world's largest hotel company, is starting to furlough thousands.
- Here's a roundup of the major companies who have announced downsizing their workforce due to coronavirus thus far.
- Visit Business Insider's homepage for more stories .
This is a developing story, check back for updates.
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