Lumber Liquidators Temporarily Furloughs 300 Workers During COVID-19 Crisis

Lumber Liquidators announced a number of measures to cut costs amid the economic downturn caused by the COVID-19 pandemic, including temporarily furloughing approximately 300 store associates.

“Impacted employees will receive two weeks of pay and have the opportunity to utilize up to 80 hours of paid time off,” the company stated. “In addition, the company will pay the employee portion of benefit premiums for any employee impacted beyond four weeks through the end of May 2020.”

The company is also implementing a temporary pay cut for all salaried employee compensation, including a 25% reduction in the base pay of the interim President, the CFO and other C-level executives. It is also reducing the cash compensation of its board of directors by 30%.

Other measures include reducing operating hours in all its distribution centers, expanding its line of credit and halting all non-critical projects, such as the openings of certain new stores. Currently, 400 of the company’s 420 stores are able to continue providing products, though at temporarily reduced hours.