85 570
Fashion Jobs
TREK
Service Manager
Permanent · CENTERVILLE
ESTÉE LAUDER COMPANIES
Keyholder - The Cosmetics Company Store - 12 Hrs - Fashion Outlets Niagara Falls - Niagara Falls, NY
Permanent · NIAGARA FALLS
ESTÉE LAUDER COMPANIES
Keyholder - The Cosmetics Company Store - 20hrs - Tejon - Arvin, CA
Permanent · ARVIN
ESTÉE LAUDER COMPANIES
Keyholder - The Cosmetics Company Store - 20hrs - Tanger Outlet Center Midway - Rehoboth Beach, de
Permanent · REHOBOTH BEACH
AVEDA
Keyholder - Aveda - 25 Hrs - Kenwood - Cincinnati, OH
Permanent · CINCINNATI
MACY'S
Asset Protection Detective, FT Myers - Full Time
Permanent · FORT MYERS
MACY'S
Fulfillment Associate, Portland - Full Time (2550)
Permanent · PORTLAND
MACY'S
Asset Protection Detective, Roosevelt - Full Time
Permanent · PHILADELPHIA
MACY'S
Asset Protection Security Guard, Center City - Flex
Permanent · PHILADELPHIA
MACY'S
Asset Protection Security Guard, Center City - Part Time
Permanent · PHILADELPHIA
MACY'S
Asset Protection Detective, Market Place - Full Time
Permanent · CHAMPAIGN
MACY'S
Asset Protection Detective, Barton Creek Square Mall - Part Time
Permanent · AUSTIN
MOVADO GROUP
District Manager
Permanent ·
STAND OUT FOR GOOD
Brand Rep (Sales Associate)
Permanent · EAST RUTHERFORD
UNIVERSITY OF NORTH FLORIDA
Apex Accelerator Coordinator
Permanent · JACKSONVILLE
JCPENNEY
Asset Protection Associate - Patrick Henry Mall
Permanent · NEWPORT NEWS
RALPH LAUREN
Sales Professional Part Time-2
Permanent · OAK BROOK
RALPH LAUREN
Associate Manager
Permanent · JOHNSON CREEK
ADIDAS
Project Manager
Permanent · PORTLAND
ADIDAS
Sales Director
Permanent · TAMPA
LEE
PT Keyholder
Permanent · GRAPEVINE
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · WALPOLE
By
Reuters
Published
Jun 26, 2020
Reading time
2 minutes
Download
Download the article
Print
Text size

Weak demand prompts Macy's to cut 3,900 jobs in push to save cash

By
Reuters
Published
Jun 26, 2020

Macy’s Inc said on Thursday it would lay off about 3,900 employees in corporate and management positions as U.S. businesses try to save cash in the face of dwindling demand caused by the COVID-19 pandemic.


Reuters



The department store chain, which had about 123,000 employees at the end of January, said it expects to save about $365 million in fiscal 2020 and about $630 million every year as a result of the layoffs.

Macy’s had in May warned of nearly $1 billion in operating losses in its first quarter and said it would turn into a “smaller company”.

The job cuts come at a time when unemployment figures in the United States are already high.

Rising coronavirus infections in many U.S. states including California, Texas and Florida are likely to hurt employment further as some people stay away from consumer-facing establishments.

“Expect more layoffs akin to Macy’s to be announced in the coming months,” said Matt Fox, founder of Ithaca Wealth Management in New York.

“Retailers that were struggling before the pandemic hit will re-evaluate their operations and cut jobs out of necessity to stay afloat until the economy recovers.”

Macy’s said it has also reduced staffing at its stores, supply chains and customer support network and would adjust their levels as sales recover.

The company, which reopened its flagship Manhattan store on Monday, said it would bring back most of its remaining furloughed employees in the first week of July.

It expects the layoffs to result in pre-tax charges of about $180 million in fiscal 2020.
Macy’s shares were down about 2% in morning trading.

© Thomson Reuters 2024 All rights reserved.