The U.S. economic outlook hangs in large part on whether business leaders respond to the new coronavirus crisis as they have with many past shocks: by laying off masses of American workers. So far they have largely avoided the tactic. But the pressure on companies to squeeze costs is building as consumers, governments and others pull back on activity. Purges of workers could become unavoidable in some industries such as shipping, air travel, retailing and dining as demand slows.

Some of the hardest hit industries for now are looking to alternatives to layoffs. Walt Disney Co. said Thursday it would pay workers while theme parks are closed. United Airlines Holdings Inc. announced a hiring freeze but not cuts; Chief Executive Oscar Munoz said he would cut his own pay instead. Hyatt Hotels Corp. is freezing hiring but not firing, and cross-training and redeploying staff. Lyft Inc. said it would offer financial support to drivers who become ill or are quarantined.

Microsoft Corp. has said it will continue to pay 4,500 hourly workers employed through vendors who clean offices and work at cafes—at a time when more than 80% of Microsoft’s direct Seattle-area employees are working remotely.

Business leaders “are thinking about making sure they come out of this with a good reputation,” said Lloyd Blankfein, former chief executive of Goldman Sachs Group Inc. “You want to be perceived as someone who does the right thing.” At the same time, Mr. Blankfein said, industries that are hit hardest by the virus need to prioritize surviving the shock, even if it includes layoffs. “If it is an existential risk, you have to do it,” he said.

There have been 633 layoffs directly tied to the coronavirus as of Thursday, according to outplacement firm Challenger, Gray & Christmas. Almost half of those were in the entertainment and leisure industry and another 145 were tied to drivers accepting freight at the Port of Los Angeles, where shipments from China have slowed, the firm said.