Mnuchin says United complying with virus law despite layoffs

United is complying with the law as it takes $4.95b in federal aid yet still plans to lay off thousands workers later in the year, according to Treasury Secretary Steven Mnuchin. The $2.2t pandemic relief law, called the Cares Act, requires companies to refrain from layoffs until the end of September in exchange for federal aid. United, which is taking the third-largest amount of the money, this month announced it would lay off 3,800 workers in October, as soon as that restriction lifts. “We believe right now that they’re in compliance with the program,” Mnuchin said Tuesday in response to a question during a Senate Banking Committee hearing. A key goal of the Cares Act is to keep people from losing jobs. <br/>