As COVID-19 cases surge across Florida, many businesses are starting to give up hope they can rebound with their prepandemic work forces, permanently laying off more workers.
Faced with thin cash reserves and the prospect of more government lockdowns, many are positioning themselves to be leaner for the remainder of 2020.
“Now with the specter of another major lockdown, these firms are saying it’s time to cut bait,” said Rebel Cole, a professor of finance at Florida Atlantic University.
Notices of extended layoffs and furloughs continue to pour into the state Department of Economic Opportunity from big businesses with long track records. Although Disney World is recalling some 8,000 workers to its Central Florida attractions, other large businesses in the hospitality and lodging world are extending separation times for thousands of workers.
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