Retail giant Macy’s said it will furlough a “majority” of employees as companies continue to navigate how to operate during the coronavirus pandemic.

In a statement Monday, Macy’s said “the majority of our colleagues” will go on furlough starting this week. As of its 2019 fourth quarter, Macy’s had 125,000 employees and 775 stores nationwide.

“While the digital business remains open, we have lost the majority of our sales due to the store closures,” said Macy’s in its statement.

Macy’s closed all stores nationwide on March 18, joining other retailers in shutting down physical locations to curb the spread of the coronavirus outbreak.

Macy’s says furloughed workers enrolled in health benefits will continue to receive coverage at least through May.

“We’ve already taken measures to maintain financial flexibility, including suspending the dividend, drawing down our line of credit, freezing both hiring and spending, stopping capital spend, reducing receipts, cancelling some orders and extending payment terms, and we are evaluating all other financing options,” said Macy’s.

The retailer joins several companies announcing furloughs to help mitigate the financial impact of the COVID-19 outbreak. Last week, The Cheesecake Factory said it would furlough 41,000 hourly workers and cut executive pay. Meanwhile, hotel giants Hilton, Hyatt and Marriott have all announced employee furloughs.

Last Thursday, the US Labor Department said a record 3.3 million unemployment claims were made the week before.

Follow Brett Molina on Twitter: @brettmolina23.