L Brands furloughs workers, Wexner and board won’t take paychecks
L Brands is extending its store closures and plans to furlough workers amid the ongoing coronavirus pandemic.
The apparel retailer will keep all Bath & Body Works, Victoria’s Secret and Pink stores closed indefinitely, having previously said the coronavirus-related closures would last until March 29.
Associates will continue to get pay and benefits through April 4, the company said. But those who can’t work from home or who don’t support the online business will be furloughed after that.
The company has 88,900 associates, 63,400 of whom are part-time, according to its most recent annual report. They will still get health benefits.
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