LATEST: JCPenney says it will extend the temporary closure of its stores and furlough the majority of its hourly associates due to the COVID-19 crisis.
JCPenney to temporarily furlough a majority of employees
"These are difficult days all across the country and the globe. At JCPenney, we are making tough, prudent decisions to protect both the safety of our associates and the future of our Company," Jill Soltau, the CEO of the company, said in a statement."We remain optimistic about JCPenney’s ability to weather this pandemic.
The massive retail chain said it will begin taking temperatures of all store associates when they report to work and is installing infrared thermometers at all locations. An associate with a temperature of 100 degrees"will be paid for reporting to work and asked to return home and seek medical treatment if necessary. The associate will not be able to return to work until they are fever-free for at least three days," the company said.
The slight drop comes after markets have swung widely for weeks amid the ongoing COVID-19 crisis. The S&P 500 is on track for its worst quarter since the financial crisis of 2008.
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