Macy's, Kohl's, GAP To Furlough Employees

Macy’s Inc said on Monday it would furlough most of its employees starting this week.

All stores of the department chain operator are staying closed to curb the spread of the coronavirus.

Kohl’s also said it would suspend its share repurchase program and evaluate its dividend plan.

Macy’s and Gap have suspended their dividends and have also tapped into their credit facilities.

Gap said the furloughs will affect its store employees in the United States and Canada.

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