Vast cutbacks in jobs and spending before any summer rebound

The outbreak of the coronavirus has dealt a shock to the global economy with unprecedented speed. Following are developments Wednesday related to national and global response, the work place and the spread of the virus.

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TRAVEL & LEISURE: Boeing said this week that it's gone another month without a single airplane order, cruise ships are devoid of passengers and gasoline prices are plunging because few people are commuting to work or taking road trips. Global travel is close to a standstill.

— One of the biggest tourism companies in the world is cutting 8,000 jobs and will try to slash spending by about 30%. TUI CEO Fritz Joussen said Wednesday that a partial resumption of business could begin by June or early July in areas where testing is taking place or in regions that have been cleared by governments.

The company employs between 60,000 and 70,000 people depending on the season.

— Six Flags is launching a new guest reservation system that will allow it to manage daily attendance levels and avoid overcrowding at theme parks. Advanced reservations through the company's website will be required to enter parks. People can get on a waiting list if the park is at capacity. Members of loyalty clubs and season ticket holders get priority.

— Scandinavian Airlines joined a growing list of carriers that will require passengers six and older to wear protective face masks. Non-essential items like magazines, pillows and blankets are no longer available, and meal service is postponed.

HOUSING: There are mixed messages on the housing front. Activity has fallen sharply with fewer people willing to show their homes, or to look at them. And 33 million people have lost jobs in the pandemic. Mortgage payments are being skipped.

— First-quarter...