Searching for smart, safe news you can TRUST?

Support safe, smart, REAL journalism. Sign up for our Axios AM & PM newsletters and get smarter, faster.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

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.

Caitlin Owens, author of Vitals
4 hours ago - Health

Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan

Photo: Alex Wong/Getty Images

President-elect Joe Biden has picked former FDA chief David Kessler to lead Operation Warp Speed, a day after unveiling a nearly $2 trillion pandemic relief plan that includes $400 billion for directly combatting the virus.

Why it matters: Biden's transition team said Kessler has been advising the president-elect since the beginning of the pandemic, and hopes his involvement will help accelerate vaccination, the New York Times reports. Operation Warp Speed's current director, Moncef Slaoui, will stay on as a consultant.

The case of the missing relief money

Illustration: Sarah Grillo/Axios

A chunk of stimulus payments is missing in action, thanks to a mix up that put as many as 13 million checks into invalid bank accounts.

Why it matters: The IRS (by law) was supposed to get all payments out by Friday. Now the onus could shift to Americans to claim the money on their tax refund — further delaying relief to struggling, lower-income Americans.