Photo: Interim Archives/Getty Images

Online ticket resale firm StubHub confirmed on Wednesday that it had put a significant portion of its workforce on unpaid leave. Some 450 employees, two-thirds of StubHub's workforce, were affected, Business Insider reported.

The big picture: StubHub is just one of many tech companies whose business has dried up overnight because the coronavirus has decimated a wide swath of industries, from entertainment to travel to health and beauty.

What they're saying: A StubHub representative confirmed the move, but declined to say how many people were put on leave.

  • "We continue to support our customers and partners and look forward to a time when we are able to return to the joy of live events and the special, human connections that come with them," the company said in a statement.

Context: The move comes as all the major professional and college sports leagues have come to a halt and half the country is sheltering in place in an effort to slow the spread of the coronavirus.

  • For those who had bought tickets for events that were canceled, StubHub has been offering customers a coupon worth 120% of the value of the ticket.

Meanwhile:

Go deeper: Biggest spike in jobless claims in U.S. history

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More than 32 million Americans are receiving unemployment benefits

Photo: Jay L. Clendenin / Los Angeles Times via Getty Images

More than 32 million Americans are receiving some form of unemployment benefits, according to data released by the Labor Department on Thursday.

Why it matters: Tens of millions of jobless Americans will soon have a smaller cash cushion — as coronavirus cases surge and certain parts of the country re-enter pandemic lockdowns — barring an extension of the more generous unemployment benefits that are set to expire at the end of the month.

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Data: Mat Talk Online; Chart: Andrew Witherspoon/Axios

242 collegiate athletic programs have been cut amid the pandemic, altering the careers and lives of thousands of student-athletes.

Yes, but: Some passionate alumni groups have opted to fight, banding together in hopes of saving the programs they helped build and continue to love.

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The U.S.-China trade war quietly escalates

Photo Illustration: Sarah Grillo/Axios. Photos: Alex Wong/Getty Images and Lintao Zhang/Getty Images

Lost amid headlines about the coronavirus pandemic and the seemingly unstoppable stock market rally, has been the monthslong escalation of tensions in the U.S.-China trade war —  and it's likely here to stay.

Why it matters: The tariffs continue to impress a sizable tax on U.S. companies and consumers, adding additional costs and red tape for small businesses, farmers, manufacturers and households trying to stay afloat amid the pandemic.