Several groups of Senior Directors and Store Managers (all of whom were VP's just a week ago) realize and discussed the changing culture at Macy's. We no longer have the once a year announcements in January, we no longer have the 11 months of job security between start of year changes. Under Jeff and Hal, we will continue to close stores when leases expire, when real estate deals make sense, and streamline when we can figure out a way to outsource functions, merge districts, combine roles, all in the interest of saving money and cutting expense. The new norm is that we eliminate entire districts and functional teams throughout the year without even informing those outside of the parts of the organization being impacted.
Macy's is still a great place to work, but it is no longer a place where we should feel less anxiety about our long term career prospects. If you think you can relax and feel secure in your position, if you believe that further reductions in pay, bonus programs, and severance all associated with position and title are not forth coming, then you will probably be disappointed in the coming months and years.
Reposted from @XXWTJMq-1qsm for making a good point.