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Small businesses cut jobs while waiting for government loans

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NEW YORK – While thousands of small businesses waited for coronavirus relief money to arrive, they were shutting down and laying off workers.

Two reports issued this week shed light on the crisis that business owners have been struggling through since the coronavirus hit.

On Wednesday, payroll provider ADP said its small business customers slashed more than 11 million jobs in April as they were forced to close or suffered steep revenue losses amid the virus outbreak.

And nearly 30% of businesses questioned for a U.S. Chamber of Commerce-MetLife report said they had closed during April, a statistic that helps explain the big drop in payrolls last month.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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