Mnuchin Says United Complying With Virus Law Despite Layoffs
- United gets $4.95 billion in aid; layoffs planned for October
- Law requires refraining from layoffs through September
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United Airlines Holdings Inc. is complying with the law as it takes $4.95 billion in federal aid yet still plans to lay off thousands workers later in the year, according to Treasury Secretary Steven Mnuchin.
The $2.2 trillion pandemic relief law, called the Cares Act, requires companies to refrain from layoffs until the end of September in exchange for federal aid. United, which is taking the third-largest amount of the money, this month announced it would lay off 3,800 workers in October, as soon as that restriction lifts.