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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.

Go deeper

Nov 21, 2020 - Economy & Business

Airlines plot course for coronavirus survival

Illustration: Aïda Amer/Axios. Photo: Ann Ronan Pictures, Bettmann/Getty Images

With the coronavirus pandemic worsening and no more help in sight from the U.S. government, airlines and airports are scrambling to survive the worst crisis in aviation history.

Why it matters: Promising vaccines offer hope for a recovery, but not until large swaths of the global population are immunized, and that could take years. To get people flying again, airlines are pushing testing and rethinking the travel experience.

Updated 33 mins ago - World

Fatal stabbing of British MP David Amess declared a terrorist incident

Police outside Belfairs Methodist Church in Leigh-on-Sea, England, on Oct. 15. Photo: John Keeble/Getty Images

Authorities have declared the death of David Amess a terrorist incident, hours after the Conservative Party lawmaker in the U.K. was fatally stabbed while meeting with local constituents in a church in eastern England on Friday.

The big picture: The Metropolitan Police has found "a potential motivation linked to Islamist extremism."

Biden: DOJ should prosecute those who defy Jan. 6 subpoenas

President Biden speaks with reporters at Bradley International Airport in Windsor Locks, Connecticut. Photo: Brendan Smialowski/AFP via Getty Images

President Biden said Friday that the Justice Department should prosecute those who defy subpoenas from the Jan. 6 select committee.

Why it matters: The president's remarks come one day after Donald Trump ally Steve Bannon failed to show up for a deposition before the committee.