Nordstrom announces temporary layoffs, executive salary cuts

Nordstrom, Inc. has announced extension of its temporary store closure plan for at least one week, through April 5, which includes all U.S. and Canada stores, including Nordstrom, Nordstrom Rack, Trunk Club, Jeffrey, Nordstrom Local and Last Chance. The company said in a statement that since it will require a smaller workforce to execute on the critical activities of the business during this time, it will be furloughing a portion of corporate employees starting April 5 for six weeks.

“This is the most difficult decision we have made in our company’s long history. Through our 119 years, our company has faced many challenges, but these are unprecedented times,” said Erik Nordstrom, CEO, Nordstrom, Inc.

The company further said that Nordstrom executive leadership group will forgo a part of their salary, and both Pete and Erik Nordstrom will decline their salary from April through September and all members of the company’s board of directors will forgo cash compensation for a six-month period.

Picture:Nordstrom media centre