Retail rout continues as simon furloughs a third of employees

Simon Property Group, the nation’s largest mall owner, is furloughing 30 percent of its workforce, the latest in a wave of coronavirus-related layoffs and furloughs in the battered retail industry. Among those furloughed are employees at Simon’s Indianapolis headquarters and at malls and outlet centers across the country, according to CNBC, which first reported the news. The company, which on March 18 announced it would be temporarily closing all its mall properties, also permanently laid off an undisclosed number of employees, according to the report. Read more at The Real Deal.