How Big Are The Coronavirus Retail CEO Pay Cuts?
The coronavirus is creating enough pain to go around for everyone who works in the retail business, but just as with the disease itself, the range of severity is inconsistent. As of this week, more than one million retail jobs have been eliminated, either through layoffs or furloughs, mainly because tens of thousands of retail locations have been closed indefinitely. And while those impacted may say the semantics between a layoff and a furlough is meaningless, many retail CEOs are at least making an effort to level the playing field by cutting their own salaries as well as those of some senior executives. Most of the companies have paired the layoff and salary cut announcements together in the fine tradition of spinning the news as best as possible. Read more at Forbes.