America’s biggest companies are
flourishing during the pandemic and
putting thousands of people out of work
A Post analysis found 45 of the 50 biggest U.S. companies turned a profit since
March. The majority of firms cut staff and gave the bulk of profits to shareholders.
By
Douglas MacMillan,
Peter Whoriskey and
Jonathan O'Connell
Graphics by
Chris Alcantara
Updated Dec. 16 at 5:28 p.m.
As the coronavirus pandemic devastated small businesses and plunged millions of Americans into poverty this summer and fall, executives at some of the country’s largest corporations sounded surprisingly upbeat.
“I don’t think we’ve ever been more excited or energized about our prospects,” PayPal finance chief John Rainey said on a November conference call.
https://www.brookings.edu/blog/the-aven ... r-workers/“These are times when the strong can get stronger,” Nike chief John Donahoe told analysts in September.
“With all that’s happening around the world, it’s really unfortunate,” said Jensen Huang, chief executive of graphics chip maker Nvidia, during an August earnings call. “But it’s made gaming the largest entertainment medium in the world.”
Amazon and Walmart have raked in billions in additional profits during the pandemic, and shared almost none of it with their workers
Molly Kinder and Laura StatelerTuesday, December 22, 2020
https://www.reuters.com/article/us-amaz ... SKCN24V3HLJEFF BEZOS AND THE WALMART HEIRS HAVE GROWN $116 BILLION RICHER DURING THE PANDEMIC—35 TIMES THE TOTAL HAZARD PAY GIVEN TO MORE THAN 2.5 MILLION AMAZON AND WALMART WORKERS.
Amazon posts biggest profit ever at height of pandemic in U.S.
https://www.theguardian.com/us-news/202 ... mic-profitWhile rival brick-and-mortar retailers have had to shut stores during government-imposed lockdowns, Amazon hired 175,000 people in recent months and saw demand for its services soar. The company said revenue jumped 40% from a year earlier to $88.9 billion.
US health insurers doubled profits in second quarter amid pandemic
