Luby’s furloughs several corporate employees, cuts others’ pay amid coronavirus limitations

Houston-based Luby’s Inc. (NYSE: LUB) is one of many restaurant companies that have had to make cuts amid the coronavirus pandemic.

The company announced March 24 that it has also furloughed more than half of its corporate general and administrative staff. As for the remaining salaried employees and senior management, their salaries will temporarily be reduced by 50 percent.

The cuts will remain in place until further notice and will be periodically reassessed as the coronavirus situation develops,…