PVH Corp announced additional actions it is taking to navigate the COVID-19 pandemic and its effects on its associates and the company’s business and financial position.
The measures announced by the company include abolition of cash compensation for its board members during the period of crisis, reduction of 50 per cent salaries of approximately 250 senior leaders and executives globally, salary reductions for all office associates in Asia, pursuing governmental relief packages, including governmental salary subsidiaries, to retain associates and which would significantly offset payroll expense and 50 per cent reduction in performance bonuses for 2020.
