We want to acknowledge that the COVID-19 crisis has had a significant impact on our colleagues, communities and our business. Macy’s Inc., like many other companies, has been impacted by the crisis and we have had to make some difficult decisions. We need to share a pay decision we have made and that impacts you. As a company, we have decided to defer the payment of our short term incentive (bonus) for 2019. For reference, in your severance documents (and the annual incentive fact sheet) it states that you would receive your bonus payout when the company bonus is paid. Our commitment is to ensure that we communicate any updates related to the timeline.
14 replies (most recent on top)
Given the current state of affairs, I’m not holding my breath waiting for any bonus $’s. I truly believe it’s not going to happen.
If you are from Macy's it will take 18 months to land a suitable position.
Today is my last day with Macy's. I am a casualty of the 680 Folsom closure in San Francisco. Not only is Macy's deferring bonuses indefinitely, they also have yet to send out official severance package paperwork. I have been job searching since January (when the WWD article was posted), but haven't landed anything yet. I live in the Bay Area, so housing (and everything else) is expensive and I previously had a game plan, leveraging my severance and bonus to hold me over in case the job search failed. Now, neither are guaranteed. Still job searching, but there are so many hiring freezes. Meanwhile, from what I've read, Macy's still plans to pay dividends to its shareholders on April 1...
Honestly, I am just happy to still have my job. I have so many friends who lost jobs this week - it's stupid.
I question to My manager before left. She told me that may be not. I know she will give mine to the who still work under her. If they can get, how come I can’t ?????? (LOL. They prompted them to be technical design manager!!!!!! They will be got lay in next time possible. The director and senior technical manager like to promote people in next level, then lay them off in next round.) We eye watch you!
let's just see what J gets this year- I am sure will make bonus/ get stock again. Good management knows how to captain the ship during rough seas.....glub...glub...glub...
You are eligible only if it mentions this in your severance package.
The bonus store mgrs get for the previous year. In this case, 2019.
What bonus???
“Captain!!!....iceb....(crunching metal sounds) ..... “ never mind....
Should have seen it coming...
If you were laid off, check your layoff packet to see if it mentions that you're eligible for a bonus. I was laid off last year, and I'm supposed to be eligible for a prorated bonus.
(Also, I'm happy to now work for a company that just gave us a huge emergency bonus to deal with financial hits, such as childcare and buying work from home equipment, as a result of Covid-19. When the dust settles, find an company that treats you well. Seriously.)
Basically sounding the bell they hit the iceberg. It’s over folks. Get in the life rafts
Does that mean if you received severance you are eligible for a bonus still??