GNC Provides COVID-19 Related Business Update
GNC ACQUISITION HOLDINGS (GNC)
Last gnc acquisition holdings earnings: 3/24 06:02 pm
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US:NYSE Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=88669&p=irol-investorhome
Company Research
Source: GlobeNewswire
PITTSBURGH, April 03, 2020 (GLOBE NEWSWIRE) -- GNC Holdings, Inc. (NYSE: GNC) (the “Company”) today announced that as a result of the COVID-19 pandemic, the Company has had to make some difficult decisions in order to protect the long-term prospects for the business. Given the unprecedented economic disruption caused by this health crisis, management has implemented measures to reduce expenses and maintain flexibility to manage through these challenging times including: A reduction in operating expenses including a hiring freeze, eliminating corporate merit increases and other cost saving initiativesA decrease in the number of field leadership roles as the company continues to optimize the store fleetReducing costs across the business with the exception of digital capabilitiesTemporary furloughs for a significant portion of our store and corporate associates across all levels of the organization Furloughed associates will maintain health benefits in GNC sponsored plans with
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