Pittsburgh, PA—GNC Holdings announced in a press release that as a result of the COVID-19 pandemic, the company has had to make “some difficult decisions” in order to protect the business’s long-term prospects. Measures taken include:
  • A reduction in operating expenses including a hiring freeze and eliminating corporate merit increases
  • A decrease in the number of field leadership roles
  • Reducing costs across the company with the exception of digital capabilities
  • Temporary furloughs for a significant portion of the company’s store and corporate associates across all levels of the organization; furloughed associates, the release notes, will maintain health benefits in GNC sponsored plans, with 100% of the premium funded by GNC throughout at least the month of April.
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Ken Martindale, Chairman and CEO, said in the release: “These decisions were extremely difficult but necessary as we navigate the challenges ahead of us. We are focused on our people and our business, and because of that we had to take decisive action. We expect these measures will give us the footing to continue to provide solutions to help others live well.”