TJX Companies To Temporarily Furlough Retail, Distribution Staff

FRAMINGHAM, MA — TJX Companies, which has its headquarters based in Framingham will temporarily furlough retail and distribution workers after Saturday, Market Watch has reported. TJX, which owns T.J. Maxx, Homegoods and Marshall’s, shuttered its retail stores last month in response to the ongoing coronavirus pandemic.

According to Market Watch, TJX executives will take a 30 percent cut in pay for three months, including CEO Ernie Herrman ($1.6 million), along with Executive Chairman Carol Meyrowitz ($1.04 million). The report stated that other executive officers and senior management staff will also take short-term pay cuts.

The report also stated that TJX would continue to provide eligible employees benefits at no cost during the furloughed period. A phone call seeking comment from TJX on Wednesday was not immediately returned.

"Following this pay cycle, we have made the very difficult decision to temporarily furlough the majority of our hourly store and distribution center associates in the U.S. and Canada," Herrman said in a statement issued by TJX. "For eligible, impacted Associates, TJX existing benefits, including health care coverage, will continue during the temporary furlough at no cost to these associates. We have provided impacted Associates with information to help them determine how to apply for unemployment benefits. "

Herrman added: "These are unprecedented times. 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."