U.S. Restaurants On Track To Lose $240 Billion By End of 2020: Survey

U.S. restaurants are on track to lose $50 billion in April, with losses mounting to an estimated $240 billion by the end of 2020, as the coronvirus crisis ravages the industry, according to a National Restaurant Association survey released on Monday.

The survey believes two-thirds of restaurant workers, a staggering 8 million people have already been laid off or furloughed as 4 in 10 restaurants close because of the coronavirus epidemic.

The 8 million workers make up a chunk of the over 22 million Americans that have filed for unemployment benefits as the U.S economy enter what many are already calling a recession.