Flurry of corporate layoffs continue as Disney, Shell, Continental announce mass firings

(ZEROHEDGE) – As we look ahead to the last jobs report before the Nov. 3 U.S. election, a growing number of corporations across various hard-hit industries are announcing tens of thousands of layoffs, as ‘PPP’ employment restrictions expire and the financial backlash from COVID-19 continues to ravage corporations and households.

Already this week, Royal Dutch Shell, Continental Airlines, Dow Chemicals, and Marathon Petroleum have announced restructuring plans that involve laying off tens of thousands of workers. Yesterday, Disney announced plans to eliminate 28,000 jobs as most of its theme parks remain closed, and the movie business remains effectively shuttered.

Royal Dutch Shell announced Wednesday morning, a new layoff program to cut upwards of 9,000 jobs, or about 10% of its workforce, as the oil major overhauls its oil and gas segments to low-carbon energy.

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