14,000 staff furloughed at Arcadia as execs face 50% pay cuts

// Arcadia has furloughed “a substantial number” of staff
// The group informed its senior team about a pay cut as a result of the Covid-19 pandemic
// Store staff were furloughed from March 21Arcadia has furloughed 14,500 of its 16,000 employees, while senior leaders take a pay cut as a result of the ongoing coronavirus crisis.
The news comes after the group – which owns the likes of Topshop and Topman – joined the list of retailers demanding rent cuts after their stores