Why is no one talking about the true number of the Macy’s Inc layoffs (reductions)? Over 30,000 jobs were lost, over 30,000 people unemployed! Is it because a huge percentage were already furloughed so if the don’t bring them back, they don’t have to legally divulge it to the press? Laws require publicly traded corporations to release press statements when a certain number of employees are reduced. Does anyone know why the real numbers aren’t being discussed by major news sources? It’s heartbreaking to think how many people are now struggling and face homelessness. So sad!
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I am with a business publication and would like to talk to anyone who could help me round up this information. Please be in touch with me at daphne@industrydive.com to connect.
Where is the media? Air advertisers and paper subscribers are not interested in watching/listening or reading articles about the current economic situation or across-the-board unemployment. Macy's is not alone here, it's just one of the biggest employers around. Find a way to insert Trump's name into the Macy's situation and media will be all over Macy's locations. However, a few years back, we discontinued the Trump Suit line and marked down Ivanka's clothes and moved them to backstage. So nope, it's all JG and the board and JG, except for his big bonuses, is not controversial enough for the media.
They cleaned house all of MTech Field Services last year, Nation wide!! Add that to this year! This company is beyond saving. Store Manager's no nothing about operational costs. Most of them can not even tell you what their budget is! Let's start there. Get Store Manger's that know how to run a store, completely!!! They should know operating costs, HR and merchandising.
@dii+15Lm4g6S... they do have to report in public press releases in addition (of course) to each state. Otherwise they would not have reported the 4000 they did. I feel they are covering it up so they don’t look bad. 4000 is a much easier pill to swallow that 30000 when you, as a consumer decide where to spend you valuable disposable income. It makes me hesitant to help them survive.
They report to each states labor department. New stories have been covered state by state. They don’t have to say they laid off 30,000.
I, too, wonder why Macy’s is ONLY reporting the reduction of its management staff 25% or 3,900 employees) and NOT REPORTING the fate of its 125,000 other employ who were furloughed 3/31/20. On June 25 Macy’s CEO sent a general letter to all employees stating there would be layoffs and a second, personal letter would be sent out that day to employees being laid off. Affected employees would also receive a personal call from their manager, in my case it was the store manager, letting us know our services were no longer needed. My store manager said Macy’s was laying off 50% of the 125,000 furloughed employees. Even if his statement was exaggerated, our store laid off about 40%+.
The severance amount was less than impressive on the second letter. It amounted to an average of $317 for every YEAR of completed service. Despicable! The employees the ones that built this company-and it was the poor financial decisions that Macy’s executives made that lead to this layoff, not just Covid-19(examples- over advertising on TV & mail, ridiculous coupons and sales, i.e., “lowest prices of the year,” spending millions of dollars on NYC 4th of July fireworks done in all 5 boroughs). If Macy’s is to survive they need to get NEW MGMT with leaders educated in retail management , business & finance to lead the way. Otherwise, Macy’s may become a distant memory. Very sad for all of us laid-off employees.
I too have heard this, I have many friends still employed and the numbers being discussed internally are over 30,000. Think about this, people on this site are reporting 20-80 members of their staff in the stores were cut, multiplied by 550-600 locations, do the math! The 4000 in the press in only representing the Corporate type offices and businesses that support the retail side. No one has provided the true numbers to the press as the person who started this thread stated. I think it might be because they were all suspended and never came back, and just laid off instead. Who knows. I don’t think anyone still working for the company would risk providing details officially.
Simply...If you have the documentation to prove your findings...just contact your local newspaper or other...
Not sure where you are but there are a lot of media stories on layoffs and furloughs. Just google Macy’s layoffs or Macy’s furlough.
Where did u get these figures?
You can notify the media