IN a statement confirming the “temporary” layoffs of all team members, luxury retailer John Bull said the economic crisis brought on by the COVID-19 pandemic is something many people have not seen in their lifetime.
John Bull workers were informed on Monday about the layoffs. According to a company statement, although the business closed its retail locations on March 20, full salaries were paid up to April 5.
Employees will get 50 percent of their salaries through April 19, the company added.
“As a leading luxury goods retailer in the Bahamas with a 91 year legacy, John Bull has weathered many storms both literally and figuratively but 2020 has presented the company and the world with a crisis of unprecedented proportions,” John Bull noted.
“. . .John Bull temporarily closed its doors on Thursday, March 20 in compliance with the Emergency Powers (COVID 19) Orders 2020. As the health and well-being of team members is always paramount, full salaries were maintained for team members throughout the past few weeks up to April 5. This approach is unfortunately not sustainable, despite cutting operational costs, if the company seeks to successfully get to the other side of this crisis.
“As the world grapples with the effect of the COVID 19 pandemic, John Bull’s executive team has had to make the very tough decision to temporarily lay off all team members effective April 6 2020. In order to assist our people during this period, the company will extend a payment to each employee equal to 50 percent of their salary as an ex gratia payment through April 19 in in addition to maintaining employee benefits.
“We can say with certainty that many of us have not witnessed anything quite like this in our lifetime, but what we know for sure is together we will get through this and brighter days are on the horizon.”
Tribune Business initially reported on the John Bull layoffs on Wednesday.