×
65 842
Fashion Jobs
MACY'S
Manager, Style Merchandise Execution
Permanent · Huntington Station
MICHAEL KORS
Sales Supervisor (Part Time), Lenox Square - Atlanta ga
Permanent · Atlanta
MICHAEL KORS
IT Security Analyst
Permanent · East Rutherford
MICHAEL KORS
Sales Supervisor, Leeds, al
Permanent · Birmingham-Hoover Metropolitan Area
MICHAEL KORS
Full Time Sales Supervisor- The Shops at Nanuet, ny
Permanent · Nanuet
MICHAEL KORS
pt-Sales Supervisor, Kings' Shops
Permanent · Waikoloa Village
TJX COMPANIES
Logistics Strategy And Reporting Manager
Permanent · Marlborough
KOHLS
Full-Time Loss Prevention Officer
Permanent · Citrus Heights
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Collinsville
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Carmel
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · North Smithfield
KOHLS
Manager, Kohl's Card Marketing - Remote
Permanent · Menomonee Falls
ESTEE LAUDER
Manager, Internal Audit, Data Analytics
Permanent · New York
ESTEE LAUDER
Director, Supply Chain Finance – Controls & Compliance
Permanent · Melville
ESTEE LAUDER
Keyholder - Cosmetic Company Store - 20 Hrs - Premium Outlets at Kenosha - Kenosha,wi
Permanent · Kenosha
ESTEE LAUDER
Regulatory Compliance Project Manager
Permanent · New York
ESTEE LAUDER
Manager, Int'l China Marketing & Business Development - le Labo Fragrances
Permanent · New York
ESTEE LAUDER
Manager, Technical Program Lead (Makeup)
Permanent · Melville
ESTEE LAUDER
Director, IT Technology Solutions - Human Resources (HR)
Permanent · New York
ESTEE LAUDER
Manager Ecommerce - Acquisition Marketing, Clinique
Permanent · New York
ESTEE LAUDER
Project Manager, Global Supply Chain Fast-to-Action
Permanent · New York
ESTEE LAUDER
Area Manager - dc Shipping
Permanent · Bristol
Ads
By
Reuters
Published
Mar 30, 2020
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Macy's to furlough most of 130,000 employees as stores stay shut

By
Reuters
Published
Mar 30, 2020

Macy’s Inc said on Monday it would furlough most of its 130,000-strong workforce starting this week as all stores of the department chain operator have been temporarily shut due to the coronavirus pandemic.



Photo - Reuters



Like many retailers, Macy’s has already said it would suspend quarterly dividend and withdrew its 2020 sales and profit forecasts in response to the uncertainty and financial hit from the store closures.

The company said on Monday the store closures had severely dented a majority of its sales, despite the online business staying up and running.

"We've already taken measures to maintain financial flexibility ... While these actions have helped, it is not enough," the company said in a statement.

Macy’s earlier this month said it would borrow $1.5 billion from a revolving credit facility to brace for the impact from the pandemic, which has killed 34,000 people across the globe.

The company said it would maintain the “absolute minimum” workforce needed to maintain basic operations across its Macy’s, Bloomingdales and Bluemercury brands.

At least through May, furloughed employees enrolled in health benefits will continue to receive coverage, with the company covering the premium amount.

The retailer added there would be fewer furloughs in its digital business, which is still operational, supporting distribution centers and call centers.

Macy’s said it planned to bring back employees on a staggered basis once business resumes.

© Thomson Reuters 2022 All rights reserved.