How Many Furloughs Became Layoffs?
At the end of May, 2020, StyleCareers.com conducted a survey on the impact of COVID-19 on fashion industry employment. Of those surveyed, 46% were laid-off and 30% were furloughed.
The week of July 18th, StyleCareers.com conducted a survey of those in the fashion industry who were furloughed. With roughly 1800 responses, here is what we found…
Furloughed Fashion Industry Professionals
As you can see, 54.6% of all fashion industry professionals who were furloughed by their employer in May 2020, were laid off by mid July 2020.
When we add those who were initially furloughed but were subsequently laid off, 62% of the industry lost their jobs. Given that 27.6% of respondents still don’t know if their furlough will turn into a layoff, that 62% could get even worse.
To add insult to industry, most of those who started by being furloughed and then lost their job altogether, received little to no severance from their employer…
Furlough to Layoff Severance Packages
As you can see, 48% of those who were initially furloughed and subsequently laid off, got nothing in the way of severance.
Anecdotally, we are hearing that the majority of those who got severance only received one or two weeks of pay regardless of how long they had been employed by the company.