Simon Property Group, the nation's largest mall owner, has furloughed 30% of its workforce, as all of its tenants have been temporarily shuttered due to the coronavirus pandemic.
The furlough victims are part-time and full-time employees working out of Simon Property's Indianapolis headquarters, as well as its malls and outlet locations, an anonymous source told CNBC.
Simon also laid off an indefinite number of employees.
The company, which has a market value of roughly $17.3 billion, has seen its shares plummet by more than 60% so far this year.
CEO David Simon has agreed to take a 100% pay cut to last throughout the pandemic.
Also, upper-level managers could see their salaries cut by as much as 30% during the same time period.
In Dec. 31, Simon employed about 4,500 workers, including 1,500 part-time employees, according to its last annual filing. Roughly 1,000 employees worked out of the Indianapolis headquarters.
Recently, Macy's, Kohl's, Gap, and Loft-owner Ascena, who combined have more than 500,000 retail workers, have furloughed the majority of those workers during the coronavirus pandemic.
Meanwhile, The Cheesecake Factory announced last week it wouldn't be paying rent in April for any of its 294 locations throughout North America.
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