(WIVB) – New Era Cap has announced that it will be temporarily furloughing most of its U.S. workforce amid the COVID-19 pandemic.
In a press release, the company cited “rapidly deteriorating business conditions resulting from the Coronavirus pandemic”, including the cancellation of professional sporting events around the world and a decline in orders from major retail customers.
The furlough is effective March 30 and will impact about 70 percent of New Era’s 600 employees, including in Buffalo.
New Era currently expects the furlough period to last for 60 days. During that time, it will operate with a limited amount of employees to carry out distribution, customer relations, sales and accounting.
Chris Koch, New Era’s CEO, said in the press release that he will be giving up his salary for the rest of the year in order to cut costs.