More Retail Furloughs: TJ Maxx, Home Goods, Marshalls Employees Furloughed During Coronavirus Pandemic

TJX (TJX), the parent company of TJ Maxx, Marshalls, and Home Goods, has announced that it is furloughing the majority of its workers as its stores remain closed because of the coronavirus.

TJX said it will continue to pay benefits and pay to its employees impacted by the closures through April 11. The pay is extended to U.S. and Canadian workers it is stores and distribution centers. Health coverage will continue at no cost to employees.

“These are unprecedented times,” Ernie Herman, CEO at president at TJX, said in a statement. “By keeping our stores and other facilities temporarily closed, we are supporting global efforts to help protect the health and safety of many people around the world. At the same time, we also take very seriously our responsibility to ensure the Company’s long-term strength and stability well into the future, which has required making some difficult decisions in the near term.”

In Europe, TJX said it is working with government assistance programs to keep store and processing center employees in its employment. In Australia, the company is also taking steps to support ongoing employment for its workers through government employee plans.

In addition, TJX will reduce the salaries of its senior executive leadership team, including Herman. Compensation for the board of directors has also been reduced.

The company said it will make changes as necessary on a “country by country basis.”

“While we have been making decisions we would never want to make, we are living through a global pandemic,” Herman said. “We are making every effort to prepare for re-openings, as soon as we believe we can operate safely in the communities we serve. I look forward to the future when we can reopen and be able to provide work and pay once again to many thousands of Associates worldwide.”

TJX employees about 286,000 workers across its brands, Reuters reported.

Shares of TJX were up 1.14% as of market close on Tuesday.