“This Is a Matter of Survival”

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Tilman-Fertitta-interviewHouston billionaire Tilman Fertitta, owner of the Landry’s restaurant group, the Golden Nugget casino chain, and the Houston Rockets, has weathered a number of storms, literal and figurative, over his forty-year career: Black Monday, 9/11, the Great Recession, Hurricane Harvey. But the restaurateur’s businesses may not outlast COVID-19. He says he has indefinitely closed 200 of his 550 locations around the world and converted the rest to takeout and delivery. On March 24, Bloomberg News reported that he has also furloughed around 70 percent of his employees—40,000 total. Most salaried workers who were furloughed received two weeks of severance pay; hourly workers had their hours either sharply reduced or cut to zero. (About two-thirds of Fertitta’s employees are hourly and the rest are salaried.) Although…View Original Post

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[source: https://www.texasmonthly.com/news/tilman-fertitta-coronavirus-interview/]