Business Insider reports President Donald Trump's eponymous business empire has laid off or furloughed around 1,500 employees.
The move comes as a result of closures related to the novel coronavirus COVID-19 pandemic.
Other major hotel chains, like Marriott International, have announced similar layoffs and furloughs.
The Trump Organization reportedly contacted Deutsche Bank to ask if it could defer payments on outstanding loans.
Trump previously admitted his businesses have suffered as a result of COVID-19.
He said he was unsure if the company would take government bailout assistance.
