While you are in the unemployment line, pull up info on Hal's pay. 22 million in cash and stocks. Now you all know why so many jobs were lost! So they could pay the new president.
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Stop taking everything on this site as being true, like this statement. No one knows but to say every store under 25 mil will close by 2020 is pure fearmongering on the part of this person spreading this rumor.
What?? Stores under 25 million are closing in 2020??
Where did that information come from??
Wonder boy will also be closing any store under 25 million by 2020. Severance packages will shrink as well.
So true....if people stop spending it bring companies to there knees...but unfortunately people always want to spend to look cooler or keep up with the jones......but stop spending would be awesome even for a month or two
Jf-71ct- you hit the nail on the head. Macy's does not care about their employees, just the rich shareholders. They don't give a rat's be honky about the customer either. Cooperate America does not care about anything but what will make them richer. We need to start a movement against big cooperation's screwing America. The american worker is getting screwed! Someone needs to start a movement like " me too"/for American workers. Stop the big inflated pay of CEO'S, bring back pension funds etc. America stop spending money. Buy only what you need. Grocery's s, see what that does to retail. Stick it too um. All of them.
Sell...sell....Sell lol.....the ship is and will sink..
Don’t overlook what Macy’s is really getting out of this investment. They have hired a politician to spin the so-called technological transformation to Wall Street and pull the wool over the eyes of the remaining employees so there isn’t an all out revolt. There isn’t any substance to the work itself, but that isn’t really the point, is it? He travels around the country like a candidate visiting this and that store location, distribution center, or office. He posts daily on LinkedIn what an “amazing day” he had meeting the team at XYZ. Photos with sycophants are posted and the comments come rolling in from the remaining company executives giving glowing reviews of how energized they are with “the vision.” It may sound like I disagree with the hiring and compensation decision. I don’t. Just don’t be fooled by rhetoric. Stockholder value is all that matters, not any one of the company’s employees. Why spend that $22M on store staffing and hard working people busting their humps every day to stop the continuing down slide in sales when that approach has not worked in years and quite frankly won’t ever again? Spend $22M on smoke and mirrors instead and buy the shareholders a little time to sell off strategically or hold until acquisition is achieved.
Tsk...if Amazon buys the company the Macy’s stock price will go up...come on.
Wow, after reading all of this I am selling off Macy's stock now. Over paid executives that are rolling in millions, undeserved , might I add, while striping the stores of employees. I hope what I read is true and Amazon takes over. If you own this company's stock sell it!
Cincinnati-based department store chain Macy's Inc. is in the middle of a push to beef up its digital presence, the revenue from which has been growing by double digits for years. Macy's (NYSE: M) chief technology officer and executive vice president Yasir Anwar, who was named to that position in June 2017 , was hired away by home furnishings retailer Williams-Sonoma. Anwar will serve as that company's chief technology officer in charge of digital experience, retail stores and supply chain as well as its 3-D imaging and augmented reality platform Outward.
SO THIS IS THE TECHNOGENIUS THAT WAS PAID A MINT TO COME TO MACY'S, NO MARKED IMPROVEMENTS AND NOW LEAVES.....WONT BE THE LAST
It is a matter of integrity or lack of that is in question. Many of the employees do own stock in the company, therefore they are a vested part of the company. Workers, yes, no doubt. Many that have led the company through hard times, chapter 11, etc. Reshaping or reinventing starts at the top. Exemplary leaders eat Shepard's pie with their employees when cost reductions are being taken to fund the future so to speak. When certain expenses at the employee level are reduced, ie mileage , hours, staffing, it does not fair well to hear you are saving but the upper Tier are rolling in millions......we all have our worth. But 22 million for a struggling company is highly in question.
Wahaaaa whaaaa bunch of cry babies.......you are a worker. You work for a company that how it works. You work for someone they make the rules its there company. Cry babies cry lol
Wow! We all got the talk about funding our companies future. We only get 45 cents for mileage reimbursement. Government standard, 54 cents per mile. We were told we ate saving and cutting back to fund our future. AND THEY PAY HAL 22 million! This stops right here, right now!
Agreed. We can let our voices be heard. Why does anyone need 22 million? Pure greed.
Simply disgracedul that we’re cutting so many associates in the stores, to pay for someone who knows ABSOLUTELY NOTHING about Macy’s. The customers are already upset that there’s no sales associates in the stores to help them, there’s already hardly anyone else to do the workload expected, we don’t need all of these outsiders coming in and getting paid these astronomical salaries, they don’t care about Macy’s employees, only about their wallet!
Hopefully the rumors are true and Jeff Bezos is taking over the reins......maybe I'll ask Alexia!
Business in all retail blows.......its just like blockbusters or any video store they closed .......retail store will eventually close......no matter what you do people will still not come to stories example.....before was 20 percent off now it 25 percent off coupons soon it be 30.. give it 1 or 2 more years and say bye bye.....stop fighting the inevitable, you can see it coming take the blind fold off
www.macysinc.com/press-room/executive-management-team/default.aspx
This is the recap of current Macy's leadership team. Most of these folks were given millions of dollars to come to Macy's with no/little department store experience and most have been with the co. under 2 years. Very healthy exit packages if it doesn't quite work out. Hard to even figure out what their position entails accomplishing but their are even more top high $$$ spots than ever in a failing company. All the mid-level executive job and associate cuts don't compensate for this. And who is left to execute whatever the strategy is or will be once these megaminds figure it ou? It does support this thread's original idea of what the real goals may be....
X Macy's executives teaming with Bezos to take over. Hope they succeed. Give us back our company with leadership that knows what they're doing.
Macy's is dead and has been for years. It just isn't broke yet. Hal and Jeff will wreck the company even worse than it already has been in the name of making it profitable. Look at who is doing well. Dollar General and Dollar Tree. Both are budget retailers. Nothing fancy at their stores. The dying middle class is the reason Macy's is dying.
He is dismantling all systems structure. I mean all. We have not seen bad yet. By June we will it starting to materialize. Mean while he rakes in the millions. Is this funding our future?
As I've been a witness to the worse cuts imaginable, I've been reminded of business owners who burn their establishments down so as to collect the insurance premiums. The idea that Lawton was brought in to dismantle the company sounds chillingly accurate. We'll see.
https://www.mansionglobal.com/articles/83561-macy-s-top-executive-snaps-up-hilary-swank-s-former-manhattan-townhouse
He has been placed their not to save or improve Macy’s but to dismantle it.
It does not take a degree in finance to figure out what is happening with this company.
Their board like vaultures will peck at the already dead horse till there is nothing but bones.
At this point they do not care about making a business model work that has already failed.
Their long term forecasts will again continue to show a decline in sales. The business is no longer a viable asset to their share holders.
What is an asset is cash in the form of real estate and the Intellectual properties of the Macy’s and Bloomingdale’s names. In the end a buy out of the business from a company willing to buy it at an inflated stock price is all that is to be expected.