The Latest: Sleep Number furloughs 40% of its 4,400 workers

MINNEAPOLIS (AP) — Minneapolis-based retailer Sleep Number has furloughed 40% of its 4,400 employees and reduced hours for 30% more as a result of the coronavirus.

Sleep Number has closed stores and suspended most home delivery during the pandemic. The mattress maker also said Thursday it’s temporarily suspending matching 401(K) contributions and some other benefits.

The Star Tribune reports President and CEO Shelly Ibach will not receive cash compensation for the remainder of the year, deferring half of it and taking the other half in restricted stock.