While several businesses and sectors are on a recovery path as economies reopen and business activities pick up the pace, there are many other organizations that are slipping deeper into the COVID-19 crisis. These mainly include companies that are into the travel and hospitality business. As the sectors continue to struggle, firms are forced to announce massive layoffs and other measures of cutting costs. Here are the firms that announced such measures recently (inputs from Reuters):

By the end of 2021, based on lessons learned, 80 percent of enterprises would put a mechanism in place to shift to cloud-centric infrastructure and applications twice as fast as before the pandemic, IDC predicted.

Pramod Mittal has officially become Britain's biggest bankrupt.

The group, whose members include big investors such as New York-based BlackRock Inc, the world’s largest asset manager, warned that the United States risked falling behind in the race to create a cleaner global economy by leaving the 2015 Paris Agreement.