REI: Stores stay shut, workers furloughed, no pay for CEO

SEATTLE (AP) — REI says it will keep its 162 retail locations closed and furlough some of its roughly 14,000 employees without pay for 90 days as the COVID-19 pandemic continues to halt much of the retail industry. The Seattle Times reports CEO Eric Artz announced the decision Monday in a blog post. He says he and the board of the company based in Washington state will go without compensation for six months. Other senior executives and corporate staff will see their pay cut. The company says furloughed employees will continue to receive health benefits during the 90 days. On March 15, REI announced it was closing retail locations and putting employees on paid leave through April 15.