www.wholefoodsmagazine.com/articles/1317-gnc-takes-steps-to-protect-long-term-prospects-from-covid-19
GNC Takes Steps to Protect Long-Term Prospects from COVID-19
April 6, 2020
Pittsburgh, PA—GNC Holdings announced in a press release that as a result of the COVID-19 pandemic, the company has had to make “some difficult decisions” in order to protect the business’s long-term prospects. Measures taken include:
- A reduction in operating expenses including a hiring freeze and eliminating corporate merit increases
- A decrease in the number of field leadership roles
- Reducing costs across the company with the exception of digital capabilities
- Temporary furloughs for a significant portion of the company’s store and corporate associates across all levels of the organization; furloughed associates, the release notes, will maintain health benefits in GNC sponsored plans, with 100% of the premium funded by GNC throughout at least the month of April.