×
48 184
Fashion Jobs
ABERCROMBIE AND FITCH CO.
Career Level Merchandise Planner
Permanent · Columbus
LEVI'S
pt Sales Supervisor, Clarksburg, md
Permanent · Clarksburg
VICTORIA'S SECRET
Brand Operations Manager-Crossgates Mall vs
Permanent · Albany
BATH & BODY WORKS
Manager, Digital Merchandising
Permanent · Reynoldsburg
VICTORIA'S SECRET
Director, Marketing Operations
Permanent · New York
VICTORIA'S SECRET
Brand Operations Manager-The Mall in Columbia
Permanent · Columbia
JCPENNEY
Director, Omni Creative Marketing
Permanent · Plano
JCPENNEY
Buyer - Juniors
Permanent · Plano
JCPENNEY
sr Buyer - Intimates
Permanent · Plano
JCPENNEY
Corporate Senior Specialist - Asset Protection
Permanent · Plano
JCPENNEY
Transportation Manager - Dallas, tx
Permanent · Plano
JCPENNEY
Director, Inclusion & Diversity - Human Resources
Permanent · Plano
JCPENNEY
Manager - IT Support And Operations
Permanent · Plano
JCPENNEY
HR Senior Specialist - Benefits/Retirement
Permanent · Plano
JCPENNEY
Design Director - Active
Permanent · Plano
JCPENNEY
Product Manager - Customer Service & Pick Pack Applications
Permanent · Plano
NEIMAN MARCUS
Marketing Manager, Esg / ps
Permanent · Dallas
NEIMAN MARCUS
Loss Prevention Investigator
Permanent · Dallas
NEIMAN MARCUS
sr Manager Group Sales - Las Vegas
Permanent · Las Vegas
NEIMAN MARCUS
Supply Chain Project Analyst
Permanent · Irving
NEIMAN MARCUS
Sales Support Manager - Las Vegas
Permanent · Las Vegas
NEIMAN MARCUS
Sales Manager, Women's Apparel - Fashion Island
Permanent · Newport Beach
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 2021 All rights reserved.