Headlines

Neiman Marcus and Belk Extend Closures

Both companies will be furloughing workers and executives will be taking pay cuts

Published

4 years ago

April 2, 2020

VMSD Staff

Neiman Marcus (Dallas) announced this past Tuesday that temporary closures of all stores will be extended through the month of April.

Employees of Neiman Marcus are being furloughed and CEO Geoffroy van Raemdonck has chosen to not receive a salary at all, reports Retail Dive.

It was also reported that other Neiman Marcus executives are taking significant salary cuts during this time.

Similarly, Belk (Charlotte, N.C.) has extended its closures while furloughing many associates.

Furloughed employees of Belk with continue to receive health benefits and those remaining with see pay cuts for the time being. Belk has since established a fund with intent to offer one-time grants for employees struggling from this crisis.

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