Movado group to furlough about 80% of its north american workforce

Movado group, inc. provides update on response to covid-19.movado group inc - furlough approximately 850 employees, or approximately 80% of its north american workforce, effective april 6, 2020.movado group - reduce salaries for its salaried employees, including chairman & ceo, efraim grinberg, who volunteered to forego salary during furlough period.movado group inc - all remaining salaried employees have agreed to a salary reduction of 15% to 25% during this period.movado group inc - board of directors will waive cash portion of their compensation during the furlough period.movado group inc - reduce staffing to minimal levels at all company warehouses worldwide.movado group inc - company possesses $190 million in cash and only $82 million of debt as of march 25, 2020.
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