What does it mean to be furloughed?
Coronavirus leads Macy’s to furlough most workers
Macy’s will furlough a majority of their employees as sales have evaporated. FOX Business’ Susan Li with more.
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The number of businesses placing employees on furlough because of the coronavirus pandemic with no definite plan to get them back to work has skyrocketed, belied by the record-breaking number of Americans filing for unemployment insurance.
3.28 million Americans filed for unemployment insurance last week. One of the most recent major employers to announce a furlough for virtually all workers is Macy's. The department store chain, which employs roughly 130,000 people, told staff in late March that it would continue to pay health benefits and cover 100 percent of premiums at least through May.
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But as an end date for the virus lockdown seems unclear, furloughs may feel more like layoffs. Technically, both words denote a cessation of employment, although employers typically use the word "furlough" when the condition is temporary. There's no across-the-board definition for what benefits or packages an employer owes the employee.