- The Trump Organization has laid off or furloughed around 1,500 employees as a result of closures related to the novel coronavirus, the Washington Post reported.
- The move mirrors those made like other major hotel chains, like Marriott International.
- A report from The New York Times said the organization had contacted Deutsche Bank to ask if it could defer payments on outstanding loans.
- The president previously admitted his businesses have suffered as a result of COVID-19 and said he was not sure if the company would take government bailout assistance.
- Visit Business Insider's homepage for more stories.
The Trump Organization, the company owned by President Donald Trump and managed by his two sons, Donald Jr. and Eric, has laid off around 1,500 people due to COVID-19.
The furloughs and layoffs have taken place in both the US and in Canada, at the president's properties in New York, D.C., Miami, Chicago, Las Vegas, Vancouver, and Honolulu, according to the report. More than 200 of the layoffs occurred at the president's hotel in Vancouver, and 75% of the employees at his Chicago hotel were laid off.
The layoffs were first reported on Friday by The Washington Post. According to the report, 17 Trump properties around the world have been closed due to the novel coronavirus. The properties that remain open are running at a "fraction" of their normal capacity, The Washington Post reported.
Combined, the closed properties generated about $650,000 each day for the organization, according to the president's previous financial disclosures, the Washington Post said.
The Trump Organization did not immediately return a Business Insider request for comment.
Other major hotel chains have taken similar steps as the pandemic has had a severely negative impact on the businesses and the global economy. Marriott International announced it expected that "tens of thousands" of employees would be furloughed as it, too, shutters hotels worldwide due to the pandemic, The Wall Street Journal reported. Marriott had not laid off or furloughed any corporate employees, according to the report.
According to a Thursday report from The New York Times, the Trump Organization reportedly reached out to Deutsche Bank at the end of March to ask if they could delay payments of some of the "hundreds of millions of dollars of outstanding loans," they've taken from the bank.
Last month, the president admitted his businesses were struggling due to measures taken to prevent the spread of the novel coronavirus. At the time, Trump said he wasn't sure whether his organization would accept any government bailout money and told reporters he did not discuss his businesses with his sons who run them.
"I wouldn't say it's thriving when you decide to close down your hotels and your businesses, no," Trump told reporters. "Yeah, it's hurting me. It's hurting Hilton and it's hurting all of the great hotel chains all over the world. It's hurting everybody.
He added: "I don't know. I just don't know what the government assistance would be for what I have. I have hotels. Everybody knew I had hotels when I got elected. They knew I was a successful person when I got elected, so it's one of those things."
Over the course of the month, Trump properties will owe more than $1.8 million in property-tax bills from local jurisdictions, The Washington Post reported.
The Trump Organization has not paid $54,534.25 in rent - due April 1 - on land leased from Palm Beach County for the Trump International Golf Club West Palm Beach, a county representative told the Washington Post. The DC paper reported the company has until April 10 to pay the rent without penalty.
Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please email covidtips@businessinsider.com and tell us your story.
And get the latest coronavirus analysis and research from Business Insider Intelligence on how COVID-19 is impacting businesses.