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The global fashion business journal

Oct 27, 20209:45am

Inditex rules out furloughs in April

Pablo Isla, chairman of the owner of Zara, has announced that it will continue to pay employees without government assistance.

Apr 15, 2020 — 5:05pm
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Inditex rules out furloughs in April

 

 

Inditex will continue to pay full salaries in April. The Spanish company, owner of Zara, has explained that plans to keep paying employees without government assistance at least in April. All stores remain closed in Spain since last March, 14.

 

Last week, the Spanish Government extended the state of alarm until April, 26 and plans to request the Congress another extension until May, 11, although it remains uncertain in what conditions.

 

Most fashion retailers in Spain have filed for expedientes de regulación temporal de empleo (Ertes), which allow companies to partially furlough employees while government funds cover part of their salaries.

 

At the beginning of the state of alarm, Inditex had already ruled out a potential Erte at least until April 15. Spain is the largest market for the group, with 1,580 stores that employ 25,000 people. Around 16% of the group’s revenue comes from its local market.

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