Covid-19 hit some of General Electric's strongest businesses hard, Chief Executive Larry Culp said on a call late last month about results for January through March. Also, we furloughed people [at] the factories, and I expect there will be further reductions," Raytheon Chief Executive Greg Hayes said Thursday. The San Francisco-based company said Glassdoor would lay off 30% of its workforce, or 300 people, including many who sell ads to smaller businesses. "The coronavirus has dramatically changed our short-term strategies as we adapt to the rapidly evolving conditions," Chief Executive Jeffrey Lorberbaum said. Covid-19 is heightening the importance of such efforts, Chief Executive Erik Nordstrom said.

Source: Wall Street Journal May 09, 2020 16:30 UTC