Facing The 'Unimaginable,' Restoration Hardware Furloughs Thousands

High-end furniture retailer Restoration Hardware is making dramatic reductions to its real estate and construction spending that had been focused on drawing in more customers by adding restaurants and art galleries to its brick-and-mortar stores. It is also reducing its workforce by furloughing about 45% of its staff on a temporary basis and cutting around 8.6% of its workforce permanently.