Best Buy announces furloughs for 51,000 workers, CEO to forgo 50% of salary

Wednesday, Best Buy announced a number of measures it has taken in the face of the COVID-19 pandemic, including temporarily furloughing workers.

According to a news release from the company, the company is set to furlough nearly 51,000 hourly store employees. Those employees will be able to retain their health benefits for a minimum of three months.

The company said most of the furloughed retail workers are part-time employees and that it would retain roughly 82% of its full-time store and field employees.

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A number of corporate employees will also participate in voluntary reduced work weeks, as well a voluntary furloughs.

Those measures are set to begin Sunday.

It was also announced that CEO Corie Barry will forego 50% of her base salary. The company’s board of directors will also forego 50 percent of their cash retainer fees through Sept. 1.