Keeping Track of Fashion’s Layoffs
From Macy’s to Everlane, the retail industry is bracing for more layoffs as store closures and economic turmoil hurt sales.
NEW YORK, United States — As the Covid-19 pandemic continues, companies have started layoffs and furloughs to mitigate large losses coming from store and factory closures. Some companies have made permanent cuts, while others have announced measures put in place for weeks or days for hourly workers and corporate employees.
Below, BoF tracks what companies have laid off or furloughed workers.
Macy’s Inc: The company stated that it would be putting a majority of its approximately 125,000 employees on furlough. Employees that aren’t furloughed and are at a director-level will receive a pay cut.
Kohl’s: The retailer is furloughing roughly 85,000 of its approximately 122,000 employees.
Ascena Retail Group: The company is furloughing all retail employees and half of its corporate staff. Executive salaries will also be cut in half. As of August 3, 2019 the company employed 53,000 employees.
DSW: The footwear retailer put 80 percent of its workforce on unpaid leave. The company employed about 16,100 workers as of March 2019.
Neiman Marcus Group: The department store announced that from April 5 to April 30 a “large portion” of its 14,000 retail and corporate employees will be furloughed or take temporary pay cuts. The company declined to discuss how many employees would be affected by the measures.
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