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Lululemon to continue paying its employees amid temporary store closures

By Prachi Singh

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Business

Lululemon Athletica Inc. has undertaken a range of actions and initiatives to support its employees as COVID-19 continues to impact the business. Understanding the pandemic may continue for the foreseeable future, the company said in a statement, stores in North America, Europe, Malaysia, Australia, and New Zealand will remain closed until they can safely reopen. In addition, the company has made the decision to continue pay protection for its employees through June 1, whether stores reopen or remain closed.

“At lululemon, our people are our top priority. These decisions enable us to support our teams and immediate business priorities, while balancing what is required to plan for the recovery and growth to follow,” said Calvin McDonald, the company’s Chief Executive Officer.

Lululemon added that for the next three months, the company’s senior leadership team will reduce their salaries by 20 percent, and the board of directors will forgo their cash retainer and these funds will go towards the newly-established We Stand Together Fund to help Lululemon employees facing COVID-19 related hardships at this time.

These measures, the company further said, are in addition to the previously announced actions at Lululemon, including actively managing the company’s expense structure, capital investment, and store opening and remodel projects. The company has also made the decision to temporarily pause its share repurchase program.

Picture:Lululemon website

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