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Retailers Furlough 600,000 Despite Stimulus, More Expected

Gap, Kohl’s and Macy’s top list of chains stopping paychecks
Furloughs came even with incentives in stimulus to keep paying

Video player cover image — Virus Stimulus Doesn’t Stop the Furlough of 500,000 Retail Workers

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March 30, 2020, 11:07 PM UTCUpdated onMarch 31, 2020, 4:58 PM UTC

Days after President Trump signed a $2 trillion stimulus into law, retailers from J.C. Penney Co. to Urban Outfitters Inc. are halting pay for much of their workforce while preserving some benefits.

The wave of furloughs brings the total number of employees who are out a paycheck at major U.S. chains to around 600,000, according to data compiled by Bloomberg.