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It is going to be much worse. This is the first week when the managers/companies started to pay attention to what is happening. Small companies are going to l
by notyourday 7y ago
It is going to be much worse.
This is the first week when the managers/companies started to pay attention to what is happening.
Small companies are going to lay people off this week/next week. Mass layoffs take time as a lot of states have something like a WARN act.
One should also remember that most of tipped restaurant industry gets tips on credit cards which are included in the next weekly/bi-weekly paychecks, which means people had money coming the week of lock down/last week. It is this weeek/next week's paychecks will have nothing in them.
Here's how you know we are starting to accept reality: Uber and Lyft miss the revenue numbers; at least one of the on demand delivery services abruptly closes. Ordering food at the markups of DoorDash/Postmates/UberEats/Grubhub is denial.
- llampx 7y agoIn an ironic twist of fate, Uber Eats might become the stronger part of the business when ridership is down but food delivery is up. My friend who is an Uber driver tells me that's what's happening in his area, in California.
- notyourday 7y agoThat's because people still think this will be a couple of week long speed bump. Cooking at home means 10%-25% of the restaurant cost.