Urban Outfitters has joined the list of retailers furloughing employees amid the coronavirus. 🔐
The retailer, parent company to Urban Outfitters, Anthropologie, Free People, Terrain, bridal brand BHLDN and rental subscription service Nuuly, along with a food and beverage business, will begin furloughing employees April 1 for a period of 60 days. Furloughed employees, which includes in-store, wholesale and office associates, will still be eligible for benefits during this time.
Urban Outfitters was one of the first to temporarily close stores across all of its brands globally on March 14, as the coronavirus continued to spread around the world. As of Tuesday, the company said stores would remain closed until further notice. While the e-commerce sites across all of the company’s fashion brands have been open during the store closures, Hayne said the drop in demand calls for a smaller workforce.
To help stem losses, Urban Outfitters has instituted a number of measures amid the pandemic, including freezing hiring and employee raises, reducing senior leadership compensation for the duration of the furloughs, temporarily suspending rent payments, decreasing capital spend, marketing and employee travel, and lowering its investments in growth initiatives, such as Nuuly and further expansions in China.
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