The lights are out on Broadway — and the town’s greatest booster.
The Massive Apple’s tourism arm, NYC & Firm, has furloughed greater than half of its employees because the coronavirus shutdown slams its funds, The Publish has realized.
The general public-private partnership is shelving 77 of its workers — roughly 55 % of its workforce — for 3 months starting Might 1, however will proceed to pay for his or her well being advantages, it stated.
It receives about half of its funding from promoting, promotions and memberships paid for by non-public companies — all of which have been hit exhausting by COVID-19.
The opposite half of its funding comes from Metropolis Corridor, which is maintaining its assist for the group flat.
“We're not proof against the results of COVID-19 and the extreme influence the disaster has had on the tourism and hospitality business,” stated spokesman Chris Heywood, in a press release. “Resulting from a shortfall in non-public promoting, promotions and membership income and the lack to hunt federal aid funding…, troublesome enterprise choices needed to be made as a way to protect working capital for the tourism restoration efforts forward.”
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