Meredith delays quarterly earnings report, says coronavirus has hit its business hard
Des Moines Register: Saying it is facing “an extremely challenging business environment” because of the COVID-19 pandemic, Meredith Corp. informed the U.S. Securities and Exchange Commission it is delaying its quarterly earnings report, which was due Monday. The Des Moines-based media company, which operates more than a dozen national magazine brands as well as television stations across the U.S., said in a press release it will report its earnings Thursday.

University of Iowa warns of potential reassignments, staffing changes

Cedar Rapids Gazette: After the University of Iowa vowed in March to keep employees whole through the end of the semester — despite its sweeping response to COVID-19 that largely shut down the campus and cost it millions — administrators Monday warned of potential changes in “future staffing needs.” Those changes could include reassignment for staffers in positions now lacking “meaningful work.” Others could be asked to use paid vacation leave or take unpaid leave, according to the UI “pay practices update” that highlighted steps the campus took to protect its community early on.

More furloughs could be coming for Collins Aerospace

Cedar Rapids Gazette: Citing a worldwide downturn in part due to the COVID-19 pandemic, officials of Raytheon Technologies Corp., parent company of Collins Aerospace, Cedar Rapids’ largest employer, said more furloughs could be on the way — without citing any specific numbers as to how many employees would be affected. As part of that move, the Waltham, Mass.-based company said in a Thursday earnings conference call for investors it would cut $2 billion in costs in its commercial aerospace sector. Collins Aerospace announced a temporary pay cut for salaried employees and furloughs for hourly employees in mid-April.

– U.S. consumer prices post biggest decrease since 2008 (Reuters)
– Toyota sees 80% profit drop as virus wipes $14 billion off car sales (Reuters)
– Mail-order drug delivery rises during coronavirus lockdowns (Wall Street Journal)