Hudson Provides COVID-19 Business Update
HUDSON LTD (HUD)
Last hudson ltd earnings: 3/11 04:01 pm
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US:NYSE Investor Relations:
hudsontech.com/investor-relations
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Source: Business Wire
EAST RUTHERFORD, N.J.--(BUSINESS WIRE)--Hudson (NYSE: HUD), a North American travel experience leader with more than 1,000 stores in airports, commuter hubs, landmarks and tourist destinations, today announced several updates and actions related to the Coronavirus disease 2019 (“COVID-19”) pandemic.COVID-19-related concerns, event cancellations, and business and government-imposed restrictions have led to a significant decrease in passenger travel, which has resulted in sharply reduced customer traffic and spending across Hudson’s retail stores in North America.In order to preserve liquidity, the Company has taken the following actions:Temporarily closing more than 700 of its stores in airports, commuter hubs, landmark, and tourist locations as of April 22, 2020.Reducing a majority of its workforce through furloughs and lay-offs of both field service and support team members. Furloughed employees will receive health benefits for at least 60 days, with Hudson funding 100% of employ
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