Neiman Marcus to furlough most of its 14,000 employees

Neiman Marcus says it will furlough most of its 14,000 employees from April 5 through April 30 while it continues health care benefits.

The Dallas-based luxury retailer, which also operates Bergdorf Goodman and Horchow, said it will reassess the decision late next month.

The people staying on staff are taking pay cuts, including CEO Geoffroy van Raemdonck, who is waiving 100% of his salary in April. Others who report to him are also waiving a “significant amount” of their salaries, the company said.

Neiman Marcus stores have been closed since March 18, and the company had said it would pay wages and salaries through April 4. The furlough begins after that and is considered a temporary, unpaid separation.

Read more: https://www.dallasnews.com/business/retail/2020/03/30/neiman-marcus-to-furlough-most-of-its-14000-employees/