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Stein Mart is furloughing most store employees, cutting pay

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JACKSONVILLE, Fla. – Stein Mart Inc. is laying off most of its 8,600 employees in its stores and supply chain, according to a report by the Jacksonville Daily Record.

The Daily Record has reported that the Jacksonville-based business is cutting about half of the 375 employees in its corporate office. It said on March 31 it would be extending the closing of its stores and cutting staff while it deals with the impact of COVID-19.

According to the Daily Record, the company said it is reducing executive management salaries by 20% and cutting the pay of its other workers.

Read the full story on the Jacksonville Daily Record’s website.