The Mirage Hotel & Casino on August 27 in Las Vegas, Nevada. Photo: Ethan Miller/Getty Images

MGM Resorts International plans to lay off 18,000 furloughed workers beginning on Monday, the Wall Street Journal reports.

Why it matters: The number represents a quarter of the resort giant's U.S. workforce and highlights how the hospitality sector has been ravaged by the effects of the coronavirus pandemic.

  • The company says it plans to rehire workers once demand for tourism and travel returns.

What they're saying: "While the immediate future remains uncertain, I truly believe that the challenges we face today are not permanent," MGM CEO Bill Hornbuckle wrote to employees.

  • "The fundamentals of our industry, our company and our communities will not change. Concerts, sports and awe-inspiring entertainment remain on our horizon."

The big picture: Roughly 33% of U.S. employees furloughed in March at the start of the pandemic were permanently laid off by July, per the Washington Post.

  • The airline industry, restricted by its federal stimulus terms to keep employees on board until Oct. 1, is also facing steep cuts. American said this week that it would lay off 19,000 employees. Delta Airlines plans to furlough 2,000 pilots, and United said in July it would furlough 36,000 employees.

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Erica Pandey, author of @Work
Oct 13, 2020 - Economy & Business

Breaking down Microsoft's telework move

Microsoft's Redmond, Wash., headquarters. Photo: Wang Ying/Xinhua via Getty

Microsoft is the latest big company to embrace the work-from-home experiment, announcing it will allow all employees to telework up to 50% of the time and some employees to work remotely forever.

Why it matters: Microsoft's approach will be a test of whether the hybrid workplace model can succeed at a massive scale.

California to independently review FDA-approved coronavirus vaccines

California Gov. Gavin Newsom. Photo: Justin Sullivan/Getty Images

California will "independently review" all coronavirus vaccines approved by the Food and Drug Administration before allowing their distribution, Gov. Gavin Newsom (D) announced at a news conference Monday.

Why it matters: The move that comes days after NAID director Anthony Fauci said he had "strong confidence" in FDA-approved vaccines could cast further public doubt that the federal government could release a vaccine based on political motives, rather than safety and efficacy.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Politics: Trump says if Biden's elected, "he'll listen to the scientists"Trump calls Fauci a "disaster" on campaign call.
  2. Health: Coronavirus hospitalizations are on the rise — 8 states set single-day coronavirus case records last week.
  3. States: Wisconsin judge reimposes capacity limit on indoor venues.
  4. Media: Trump attacks CNN as "dumb b*stards" for continuing to cover pandemic.
  5. Business: Consumer confidence surveys show Americans are getting nervousHow China's economy bounced back from coronavirus.
  6. Sports: We've entered the era of limited fan attendance.
  7. Education: Why education technology can’t save remote learning.