Tapestry, inc. announces additional responses to covid-19

Tapestry, inc. announces additional responses to covid-19.tapestry inc - re-opening stores in china as quickly as possible.tapestry inc - drawing down $700 million from its $900 million revolving credit facility to add to cash balances.tapestry inc - suspending its quarterly cash dividend beginning in q4 of fiscal 2020.tapestry inc - suspending its share repurchase program.tapestry inc - at may 30 company will furlough most assistant store managers and sales associates where stores have not reopened.tapestry inc - a 50% reduction in cash compensation for board of directors.tapestry inc - reducing its retail workforce in north america by approximately 2,100 part-time store associates across three brands effective april 25.tapestry inc - a 50% salary reduction for chairman and chief executive officer jide zeitlin.tapestry inc - 50% reduction in cash compensation for board of directors.tapestry inc - 50% salary reduction for chairman and chief executive officer jide zeitlin.tapestry inc - cancellation of company's annual incentive plan for fiscal year 2020.tapestry inc - elimination of merit salary increases for all employees for fiscal year 2021.tapestry - anticipates making additional changes in coming months that will result in streamlined organization, including reductions in workforce.tapestry inc - applying for available government payroll subsidy programs in various countries to mitigate payroll expense.
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