Birks group announces actions to address financial impacts of covid-19

Birks group announces actions to address financial impacts of covid-19.birks group - pandemic has adversely impacted, is expected to continue to impact, co's operations for at least as long as stores remain closed.stores will remain closed until further notice in accordance with government directives.company has temporarily laid off over 80% of its employees without pay.implemented temporary base salary reductions of 20% for its executive officers.reduced its workweek by 20% for most of those employees who remain active.company will continue to provide health benefits to its employees who have been temporarily laid off.board of directors has also temporarily reduced its compensation by 20%.taken actions to reduce its marketing expenses by approximately 57% for q1 of fiscal year 2021.postponed over $2.4 million of capital expenditures through q1 of fiscal year 2021.
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