God, most of you people are in denial. Macy’s is gonna close or at the very least lay off anyone making over $10 an hour, holy c-app, read the writing on the wall...
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Thanks to the previous Post ID: @zdbt. You tried to put it as nicely as possible. I was a 17 year big M employee, and the decline started long before this virus. Everyone needs to do their financial homework and look at the big M realistically. Acceptance is the first step, please don't think that EVERYONE will have their jobs. Good luck & be informed!
This is psychic to stars Jean Dixon I’m am typing to you from beyond the grave.
what’s your track record in predictions?
In my area, a flyover state, no one would have to be let go because no one makes over 10.00 an hour with a few exceptions..
Believing did not pay the bills for Mac's in the past .
There will be cuts, not might.
Anything is possible - true very good to have that positive attitude - but prepare for the worst.
After the great years of stocks rising the company fell, and hard. Combining departments was the first sign that there was trouble ahead.
Closing over 100 stores was another red flag that went up the pole to show another sign of trouble, but to a higher degree. MSP was supposed to be better than sliced bread - then the full time hours went away and most everyone was set with part time hours. More departments combined, register removed and "consolidated".
Did you not notice the tension in the company during January - every year the cuts would come in January and February and people were tense all month. After a store closing in January, of which I lived through, the signs were definitely on the wall. Closing stores while still paying for a lease is a sure sign of problems. More cuts, more combinations, more work but fewer associates. Combining Ops and AP was the biggest sign I saw and it was not a flag it was all out fireworks saying this ship is in deep water and has a leak! District positions gone....
Macy's was a great company at one time and they were on the way up, then something happened that made the ship hit the iceberg and the water is flowing in and money flowed out.
Macy's is not buying receipts, no money coming in now. When the restrictions lift it will be slow for people to shop and what merchandise is in the stores now? Summer? Fall? Who knows. People are holding onto their cash as much as they can as we are staring down a depression possibility, at very least a recession. No one will buy a $400 handbag for a while, it will happen again, but the comeback will be VERY slow.
Oil is at a NEGATIVE price!!?? I have never seen this in my life and I lived through some tough times in our country. We are in uncharted territory economically and falling off the edge is very possible.
Macy's could survive with loans off real estate, but that will only last for so long.
I fear bankruptcy for many companies is on the horizon and rapidly approaching. If the restrictions stay in place there will be limited time to be able to survive as the company must pay overhead to keep stores. Rent for lease, all utilities etc.
It is great to be positive, but one must see that there are options that will occur as well. As none of us have a crystal ball, it is wise to prepare for the worst, hope for the best, and send out your resumes and/or make a career change.
Good luck to all in making you r decisions. I left just prior to this mess and saw the writing on the wall as you can see - I am lucky as I am still working outside of retail!
Applying for a job at Macy’s is about as logical as having a peeing section in a swimming pool
Try to pay your bills with “believe” I don’t think the bank accepts believe
And who told you thins???? By your theory, everybody in NY would be laid off since they make over $10. Yes, it is probable there might be cuts, but we do not know. Anything is possible!!! So instead of evoking fear about something you most likely know nothing about, why don't you focus on something else. If you are so concerned, please give me your ID number and I will be glad to send an email about how you would like to be let go so somebody else can have a job.
Some people see the glass half full some see it half empty
I "BELIEVE" in Macy's comeback