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Retail nightmare continues

(Credit: Simon Property Group)

J.C. Penney joined Macy’s, Gap, and Kohl’s in announcing massive employee furloughs without pay as retailers face store closures and plummeting sales spurred by the fallout from coronavirus. The retailer has roughly 95,000 associates globally.

  • Neiman Marcus Group is extending the closures and will furlough a majority of its roughly 14,000 workers. The luxury retailer’s Neiman Marcus, Bergdorf Goodman and Last Call stores will stay shut at least until April 30. 
  • Macy’s said the majority of its around 125,000 employees would go on furlough starting this week.
  • Gap, which owns the Gap, Banana RepublicOld NavyAthletaIntermixHill City, and Janie and Jack brands, said it will furlough the majority of its 129,000 store employees. 
  • Kohl’s extended the duration of its store closures until further notice, and said it would furlough its roughly 122,000 associates. 
  • Retail nightmare: The biggest U.S. mall owner, Simon Property Group, has furloughed about 30% of its workforce, which impacts both full- and part-time workers. (Barron’s+Bloomberg+CNBC

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