Companies across every economic sector are suffering and most are withdrawing all financial projections with so much about the pandemic still unknown. But they are also recognizing that customers are experiencing the same trauma. There have been tens of thousands of layoffs and furloughs. JPMorgan Chase, the New York bank, is doing away with minimum payment requirements on credit cards and it’s waiving late fees. Allstate is sending shelter-in-place paybacks to customers, with most getting checks for 15% of their monthly premium in April and May. On Tuesday, the layoffs kept coming in restaurant, travel, retail and manufacturing industries.
