COVID-19 Cripples the Restaurant Industry
While the COVID-19 pandemic has had a devastating economic impact globally, few industries have been as hard hit as restaurants and hospitality. In the U.S. alone, losses north of $225 billion are projected over the next three months. This week, GZERO World with Ian Bremmer is focusing on what it means for businesses and employees alike. Ian interviewed famed restaurateur Danny Meyer, the CEO of Union Square Hospitality Group and founder of Shake Shack. Meyer discusses the toll coronavirus has taken on his own business, his decision to let go 80% of his workforce (2,000 employees) and the dimming prospects of survival for many restaurants in America, including some of his own.