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GLD 383.15+0.8%Nov 26 4:00 PM EST

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To: John Vosilla who wrote (159537)6/25/2020 12:29:17 PM
From: Pogeu Mahone  Read Replies (1) of 218043
 
Macy’s will slash 3,900 corporate jobs as coronavirus hammers sales


Macy’s flagship store in New York on May 12. (Demetrius Freeman/Bloomberg News)
Macy’s is laying off 3,900 corporate employees and managers, or about 3 percent of its total workforce, marking the latest effort by the beleaguered retailer to cut costs during the coronavirus pandemic.

The layoffs announced Thursday come just months after the beleaguered retailer said it would close 125 stores — about a fifth of its total — and shed 2,000 jobs after a disappointing holiday season. The company also is scaling back staffing at its Macy’s and Bloomingdale’s stores, distribution facilities and customer service centers but says it will “adjust as sales recover.”

The retail giant furloughed the majority of its 125,000 employees in mid-March after coronavirus-related closures led to a steep decline in sales. Many of those workers are expected to return to work in July as the company continues reopening stores across the country.

Read more here.
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