Trump Organization has laid off about 1,500 employees as pandemic hits business
Published: April 4, 2020 at 9:17 a.m. ET
By MarketWatch
The coronavirus pandemic has forced borrowers and lenders across the globe to discuss ways to pay debts
The Trump Organization has laid off or furloughed about 1,500 employees at hotels in the U.S. and Canada as the coronavirus pandemic inflicts pain on the president’s private business, the Washington Post reported late Friday.
With most of U.S. President Trump’s hotels and clubs closed amid stay-at-home orders around the world, the Trump Organization has responded by cutting costs, like other companies in the hospitality and tourism industries.
The family business of President Trump is also in informal discussions with Deutsche Bank AG about delaying some loan payments as the coronavirus forces widespread disruptions to the economy, Bloomberg reported Friday.
Trump Organization representatives reached out to the Deutsche Bank’s private banking unit in New York late last month and the talks are ongoing, according to the New York Times.
https://www.marketwatch.com/story/trump-organization-has-laid-off-about-1500-employees-as-pandemic-hits-business-2020-04-04?mod=home-page
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In Palm Beach County, Fla., the Trump Organization has not paid rent of $54,534.25 that was due April 1 on land it leases from the county government for the Trump International Golf Club West Palm Beach, a county representative said Friday. The Trump Organization said it has until April 10 to make the monthly payment without penalty.
“Because payment has not become due, and in light of Governor’s DeSantis’ executive order shutting down businesses throughout the State of Florida as a result of the COVID 19 pandemic, the County advised us to refrain from making payment until they have finalized their policy for the handling of their numerous leases,” Alan Garten, a Trump Organization executive, said in a statement. “As soon as the County finalizes its guidance, we will, of course, fully and timely comply with its directives as well as continue to comply with the requirements of the lease.”
Palm Beach County officials did not respond to a question about Garten’s comment that the company was advised not to make the payment.
So is he at the back of line or at the front of line.....................and does he get some kind of special treatment...............fuck that........
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