Coronavirus Layoffs: Trump Organization Cuts 1,500 Employees As Pandemic Hurts President's Private Business

The Trump Organization has laid off or furloughed 1,500 employees in the United States and Canada, as the coronavirus takes its toll on businesses around the world.

Seventeen of Trump’s hotels and clubs have closed, as states close non-essential businesses across the country in order to prevent the spread of the virus. Public filings and sources involved with Trump properties have revealed that employees were furloughed or laid off at Trump hotels in New York, the District of Columbia, Miami, Chicago, Las Vegas, Vancouver and Honolulu.

The Trump Organization is managed by President Donald Trump’s two sons, Donald Trump Jr. and Eric Trump, and consists of over 500 business entities of which Donald Trump is the sole or principal owner. Trump was forced to relinquish his role in the Trump Organization after the 2016 election, in order to not have a conflict of interest when he assumed the presidency.

Bloomberg reported Friday that members of the Trump Organization are in ongoing talks with Deutsche Bank AG about delaying loan payments, as the coronavirus impacts the finances of the business. Trump’s past financial disclosures show the closed properties cost an average of $650,000 in revenue for the company per day.

The hotel industry has been devastated by the ongoing coronavirus outbreak.

Individual owners and big chains will be able to receive financial help due to the $2 trillion CARES Act stimulus package signed by Trump last month. Hotel owners will be able to receive federal loans that were set aside for small businesses.

“We’re very grateful. The industry has never seen anything like this, so we need a remedy unlike anything we’ve ever needed,” American Hotel & Lodging Association President and CEO Chip Rogers said about the financial aid. “It’s definitely a lifeline. Calling it a stimulus package, I wouldn’t agree with that. Hoteliers are in survival mode right now. At some point we’ll need an actual stimulus package.”

At a coronavirus briefing on March 21, President Trump would not rule out the Trump Organization accepting stimulus money.

“I don’t know,” President Trump said. “I just don’t know what the government assistance would be for what I have. I have hotels. Everybody knew I had hotels when I got elected."