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Myer to close stores, cut workforce across store network

By Prachi Singh

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Business

In response to the COVID-19 outbreak, Myer Holdings Limited will temporarily close all stores from the close of business on March 29, 2020 for an initial period of four weeks until April 27, 2020. The company said in a statement that Myer will continue to operate all online businesses and has reduced the threshold for free delivery to 49 Australian dollars per order and has relaxed the returns policy. However, the company added that it had to stand down approximately 10,000 team members across the store network, who will not be paid during this period of imposed closure.

Commenting on the update, Myer CEO, John King, said: “The decision to temporarily close all Myer stores and stand down so many loyal and dedicated team members is one of the toughest decisions this company has faced in its 120 years of operation.”

The company further said that a small group of business-critical roles will be maintained to undertake essential work during the period and to support the online businesses. These roles will operate on an equivalent of 80 percent of their normal salaries and contracted hours. The Myer board, CEO and Managing Director John King, along with all of the executive team members, have opted to not receive any remuneration during this period, but will continue to work in their respective roles.

Picture:Facebook/Myer

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