Widespread layoffs caused by coronavirus at 40 percent of firms
As confirmed COVID-19 cases rise around the country, construction contractors are reporting cancellations of upcoming projects and shortages of equipment or materials, forcing nearly 40 percent of firms to lay off employees, according to a recently released survey by the Associated General Contractors of America.
“Owners are not only halting many current construction projects but are canceling a growing number of projects that have not yet started,” says Ken Simonson, the association’s chief economist. “Inevitably, that has caused a growing number of contractors to furlough or terminate job site workers.”