Columbia has furloughed 3,500 retail employees and has reduced their pay by 75%, after keeping them on for four weeks at full pay through the company’s catastrophic paid-leave program. It has also pulled back on staffing at its distribution center, and is implementing salary reductions at every level throughout the company. Last week, we reported that CEO Tim Boyle had reduced his salary to $10,000 per year, and also cut compensation for senior executives and directors.

New Balance will be furloughing “a portion” of its retail, factory and office workforce but did not reveal any specific numbers or timeline for the ... Log in to view full article.