[Baldwin:] As the various states take a patchwork approach to reopening, California's being a bit more cautious than a number of other locations. Governor Gavin Newsom announced a four-stage approach. Flattening the curve. Then opening lower-risk, like manufacturing, retail, childcare centers. But months before stage three, personal care facilities like hair salons and gyms could reopen. And then the last stage, stage four, means concerts and live crowds, sporting events. Governor Newsom says that will come only, as he says, once therapeutics have been developed to treat coronavirus. And so joining me now, Joey Gonzalez, CEO of the workout chain, Barry's. I have done a few Barry's workouts. It's no joke. But totally different that we're all trying to do the do from home. First thing's first, Joey, thank you for being on. When you hear from Governor Newsom, it's months not weeks before places like Barry's can reopen, how do you feel about that?
[Joey Gonzalez, Ceo, Barry's Bootcamp:] Yes, I would say it was definitely a bit of a gut punch. I think a lot of us being here in California and seeing some positive results, as a result of them taking early action, we were hopeful and optimistic we might be slowly and very carefully opening our doors in the early summer, maybe June- ish. So that was definitely news yesterday. I would say that as a result, we're just strategizing ways in which we can continue to elevate our Barry's at-home product and maintain the connection within our community. Our mission is to inspire people to work out hard, have fun, find their strength and be their best. So we're just working on ways to innovatively deliver on this promise because I think people need it now more than ever.
[Baldwin:] As you're innovating and people are moving and grooving and lifting weights in front of their tv and laptop, what have you, because I know you're doing this now virtually, really, how is that going and are you making any money?
[Gonzalez:] So you have to kind of separate the fact that we are we have turned on revenue, but we have not turned on profitability, and they are two very different things. And what I mean by that, I'll start off by saying our commitment has been, first and foremost, to the safety of our employees and our clients. And we most definitely put that above revenue from the very beginning. We proactively decided to shut down all our studios across the country, prior to any governmental mandates, and once we shut down, we continue to support 100 percent of our employees the first couple of weeks of closures. Beyond that, we sadly had to lay off part-time staff but we did keep on and still today have 60 percent of our full-time employees, at a slightly reduced compensation. And we're actually the only boutique fitness company that I know of our size to have offered to keep every single trainer full-time, part- time, all of them employed and paid throughout the past six weeks of closure. And as you can imagine, continuing to support an employee base of this size is very challenging, with no meaningful revenue coming in. So, unfortunately, we're in a position now where, if we can't resume in the next few weeks or month and a half, we'll have to continue to make some additional difficult decisions.
[Baldwin:] I'm sure people can find information about how to do the virtual Barry's. And good on you for being able to keep as many people employed during all this as possible. Joey Gonzalez, I appreciate you. Thank you.
[Gonzalez:] Thank you.
[Baldwin:] Just into CNN, the U.K. has revealed a huge spike in the number of people who have died from coronavirus. We have that update. We'll take you there. And more on breaking news back here at home. The "New York Times" reports the FDA is expected to issue an emergency authorization for the drug that Dr. Fauci said is showing can actually block the virus. Huge news on that today. Stand by.