. US fossil-fuel companies took billions in tax breaks – and then laid off thousands « JO LEE MAGAZINE

The Guardian – Fossil-fuel companies have received billions of dollars in tax benefits from the US government as part of coronavirus relief measures, only to lay off tens of thousands of their workers during the pandemic.

A group of 77 firms received $8.2bn under tax-code changes that formed part of a stimulus bill passed by Congress last year. Five of these companies also got benefits from the paycheck protection program.

Despite this, almost every one of the fossil-fuel companies laid off workers, with a more than 58,000 people losing their jobs since the onset of the pandemic, or around 16% of the combined workforces.

Continue reading this article at The Guardian.


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