Corporate Layoffs Letter Tracker
Public Citizen and our ally organizations are calling on corporations that benefitted from COVID-19 stimulus programs to release information on layoffs and rehiring during the pandemic. Many of these corporations raised billions in debt after the Fed’s backstop of the corporate bond market, while others received millions in PPP loans.
We sent letters directly to the executives at these corporations, requesting that they respond within two weeks to our questions about mass layoffs, bond issuance, and investments in workers:
Letter to Boeing
- Bond sales: $25 billion
- Job cuts: announced 30,000 planned layoffs
Status: no response
Letter to Chevron
- Bond sales: $12 billion
- Job cuts: announced 10-15% workforce cuts, implying reduction of between 4,500 and 6,700 jobs
Status: responded
Letter to Coca-Cola
- Bond sales: $15.6 billion
- Job cuts: announced 1,200 U.S. job cuts
Status: no response
Letter to Exxon
- Bond sales: $9.5 billion
- Job cuts: announced cuts of 15% of workforce, including 1,900 U.S. jobs
Status: no response
Letter to General Motors
- Bond sales: $4 billion
- Job cuts: cut at least 700 factory jobs
Status: responded
Letter to Giti Tire
- PPP loans: $9.8 million
- Job cuts: cut at least 637 jobs
Status: responded
Letter to Honeywell
- Bond sales: $7.1 billion
- Job cuts: laid off at least 9,929 people worldwide, refused to disclose specific number of U.S. layoffs
Status: no response
Letter to Marriott International, Inc.
- Bond sales: $3.6 billion
- Job cuts: 673 workers cut at Marriott HQ, thousands across nationwide Marriott locations
Status: no response