The economic shocks from the pandemic are reaching deep into the Massachusetts work world

“It was almost like a tidal wave of businesses closing down,” said Crompton, general manager of Old Town Trolley Tours of Boston.

6.65 million file jobless claims as job market collapses under weight of coronavirus pandemic

Americans by the millions are seeking unemployment pay as the economy grinds to a halt — this week’s surge in the number of claims is double last week’s record amount. In Massachusetts, filings rose 32,610 to 181,062 on an unadjusted basis.

Community newspapers were already in a tough spot. Coronavirus might destroy them

At a time when their roles as information conduits and community sounding boards are critical to fighting the pandemic, local newspapers are reeling from the economic shocks of the coronavirus.

Boston Scientific cuts pay for many of its 36,000 workers as revenue drops

The medical device maker also plans to make deeper cuts to the base salaries of its chief executive, Mike Mahoney, and those of its board of directors and executive committee.

Latest Business headlines

Union calls for two-week shutdown after three GE workers test positive

The union at the General Electric aviation plant in Lynn is calling for a two-week shutdown after at least three of its members tested positive for COVID-19, according to IUE-CWA Local 201, which represents about 1,260 workers at the facility.

Federal aid for small business off to a slow start

Banks said they have not had much time to prepare for the flood of requests from companies hurt by the coronavirus shutdown.


Healey asks DPU to delay natural gas rate increases for pipeline replacements

Stories you may have missed from the world of business.

Disappointing trial results may not bode well for Biogen’s Alzheimer’s drug

Boeing offers employees buyouts as US economy shudders

The Chicago-based aerospace giant’s resilience has been severely tested by a multipronged crisis.


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These 128 businesses have the happiest employees in the state. Here are sortable lists of the winners, and how we compiled them.


// Developing new antibiotics requires new incentives, experts say

The private sector is unwilling to take on the financial risk, experts say, despite desperate need.

More Business headlines

When Aaron Krolik, a Times reporter, signed in to a Zoom meeting using the pseudonym

A feature on Zoom secretly displayed data from people’s LinkedIn profiles

The undisclosed data mining adds to growing concerns about Zoom’s business practices at a moment when public schools, health providers, employers, and fitness trainers are embracing the platform.

Trump says he expects Russia, Saudis to cut oil production

But the Kremlin disputed part of Trump’s tweet, leading to skepticism that a deal was imminent.


Health insurers press Congress for premium relief

The people who run the state’s three largest health insurers are already looking ahead, to the next round of federal stimulus funding.

Tufts Medical Center furloughs, cuts hours for 2,000 workers

Tufts Medical Center announced furloughs and pay cuts for 2,000 workers, part of cutbacks throughout the health care industry from the coronavirus pandemic.

Gig workers’ path to unemployment insurance unclear

Self-employed workers got the good news last week that they would be eligible to apply for unemployment — a first for independent contractors. But the bad news is: It's unclear how it will work and how long it will take for workers to get their money.

Eviction ban passes House, picks up speed on Beacon Hill

Renter protections would stay in place for 30 days after the coronavirus emergency is lifted.

Mass. health insurers offer help during coronavirus crisis

The companies, led by Harvard Pilgrim, have collectively donated millions of dollars over the last two weeks.

From MIT, a new shield against COVID virus

A plastics company is rushing to make thousands of masks designed by two academics at the Cambridge institution

Wall Street rises for first time in three days as oil gains

A sudden surge in oil prices revived beaten-down energy stocks. But, as has so often been the case in this year’s market sell-off, it took a few U-turns to get there.

VC firm Flagship Pioneering raises $1.1b for biotech startups, despite reeling economy

The Cambridge firm’s CEO says the coronavirus crisis means that such investing is more critical than ever.

Boston Fed chief warns economic hit from coronavirus could last longer than expected

In fact, Eric Rosengren doesn’t expect the economy to bounce back until COVID-19 tests are widely available and widely used.


Working from home means smoking from home

Stories you may have missed from the world of business.

Zantac Products Should Not Be Sold or Used, FDA Warns, Citing Cancer Danger

The Food and Drug Administration on Wednesday asked companies to stop selling all forms of the heartburn drug Zantac, after concluding that a potential cancer-causing contaminant can build up in the drug when stored for long periods.

Breana Avelar (left), a processing assistant, and family members protested outside the Amazon DTW1 fulfillment center in Romulus, Mich., Wednesday. They say the company is failing to protect the health of its employees amid the COVID-19 outbreak.

Amazon’s hiring boom packed applicants into job fairs with no special precautions

Targeting 100,000 recruits, the company dusted off a holiday season hiring playbook but says it has since begun making events virtual.

Banks brace for millions of small-business loan requests as Trump coronavirus plan is put to test

Banks brace for millions of small-business loan requests as Trump coronavirus plan is put to test

US stocks tank as bleak news mounts on health, economic fronts

US stocks tank as bleak news mounts on health, economic fronts

Despite crisis, they keep on trucking to meet the demands of consumers

Even as the COVID-19 pandemic has forced a majority of people to work from home, most of the United States' 3.5 million drivers continue hauling, trying to mitigate the country's unprecedented supply chain disruptions.

A measure to stop evictions starts moving on Beacon Hill

But both housing advocates and landlords say the legislation doesn’t go far enough.


Danaher completes acquisition of GE Healthcare’s Life Sciences division

Stories you may have missed from the world of business.

A view of the New York Stock Exchange. The Dow Jones industrial average plunged roughly 1.9 percent Tuesday, for the worst first-quarter finish of its 135-year history.

Dow caps worst-ever first quarter with a more than 400-point slide

Wall Street concluded one of its worst-ever starts to a year on Tuesday with markets staggering under trillions in losses from an economy paralyzed by the coronavirus.

Thousands of businesses flood Baker administration with inquiries over ‘essential’ list

Everyone, it seems, wanted to be on the essential businesses list: from bookstores to bike shops, pot sellers to pet groomers.

Citing coronavirus, construction unions urge a statewide halt to building projects

A group representing 75,000 Massachusetts workers says it’s impossible to ensure on-site safety.

Boston Medical Center furloughs 10 percent of its workforce as part of cutbacks across the health care industry

Boston Medical Center is putting 700 employees on furlough — about 10 percent of its workforce — as it braces for major financial losses from the coronavirus pandemic.

Blue Cross, Harvard Pilgrim, Tufts waive patients’ out-of-pocket payments for COVID-19

The moves expand upon a directive from the Massachusetts state Division of Insurance earlier in March that health insurers waive copays for any treatment related to COVID-19.

My generation’s luck has run out. Let’s be smart preparing for the next shock

There are ways to bolster the economy so we aren’t so vulnerable.

What small business owners need to know about the $2 trillion stimulus package

Here's what small businesses and nonprofits need to know about the $2 trillion stimulus package

Saudis start to unleash oil wave despite US pressure

Oil supplies go up, as pricing falls.

People are hacking together makeshift home offices. The Globe wants to see yours

We want to see your home office spaces!

With shared stations and sick co-workers, employees at GE’s Lynn plant fear for their health

Second-shift workers in Lynn say they are worried about unsanitary conditions, sick co-workers, and inadequate sick leave. The company said it cleared the building for a two-hour deep-cleaning.


Raytheon’s Waltham headquarters to add employees after UT merger

Stories you may have missed from the world of business.


Here’s how to deal with Social Security and Medicare amid the coronavirus crisis

Here's how to deal with the Social Security Administration during the coronavirus crisis


Boston faces pressure to make grants to struggling small businesses

Low-interest loans are nice, but many small businesses need grants to survive this pandemic.


Tech tools aimed at assessing the likelihood that you have COVID-19

A growing number of technology companies are offering online diagnostic tools that use simple question-and-answer tests to assess the likelihood that someone is infected with the coronavirus.

Insurers worry virus-linked costs may reach $383 billion a month

Legislators in at least three states — Massachusetts, New Jersey, and Ohio — have proposed bills to require that insurers pay out for certain claims related to COVID-19.

A electronic billboard displayed advice on how to cope with the coronavirus in front of a closed Macy’s department store in Santa Ana, Calif.

Macy’s furloughing most of its 125,000 employees

Macy’s furloughing most of its 125,000 employees amid prolonged coronavirus shutdown

US and J&J commit $1b to coronavirus vaccine codeveloped by Beth Israel

Clinical trials are set to start by September, and if all goes well, it could be ready for emergency use early next year.

Wall Street’s rally rolls on, led by health care stocks

The rally tacked more gains onto a recent upswing for the market, which is coming off the best week for the S&P 500 in 11 years.

Gannett will furlough workers at more than 100 newspapers over next three months

Gannett will furlough workers at more than 100 newspapers over next three months

Inside GM’s race to build ventilators

General Motors works to build ventilators at factories, and deals with White House criticism.

Gas prices at stations across the street from each other sold gas for as low as 97.9 cents per gallon, Monday, in Cleveland.

Oil crashes to 18-year low with broken market

Oil has dropped to the lowest it has been since March of 2002, falling with the economies of some of the biggest markets in the world.

Lenders asked the Securities and Exchange Commission and Financial Industry Regulatory Authority to act.

Mortgage bankers say SEC needs to save them from wave of margin calls

Mortgage bankers are sounding alarms that the Federal Reserve’s emergency purchases of bonds tied to home loans are unintentionally putting their industry at risk by triggering a flood of margin calls.

Innovation Economy by Scott Kirsner


Kirsner’s Innovation Economy column appears in the Boston Sunday Globe, and he contributes to the Globe’s Beta Boston website.