Macy's closed all of its stores on March 18 to help combat the spread of COVID-19
Monday, Macy’s, which also owns Bloomingdale’s and Bluemercury, said the pandemic has “taken a heavy toll” on the company.
To try and conserve their finances, the company said they’ve already suspended its dividend, drawn down a line of credit, frozen hiring and spending, stopped capital spend, reduced receipts, canceled some orders and extended payment terms. Macy’s said there will be “fewer furloughs” in their digital business, supporting distribution centers and call centers so they can continue to make sales online.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Macy's will furlough the majority of its 125,000 employeesMacy's is furloughing a majority of its 125,000 employees because of the ongoing coronavirus pandemic, which has sunk sales and forced it close to its stores.
Read more »
Macy’s Will Furlough The Majority Of Its 125,000 EmployeesThe department store said the majority of its sales have evaporated as a result of temporary store closures.
Read more »
Macy's Furloughs Most Of Its 130,000 WorkersCiting the pandemic's 'heavy toll' on its business, Macy's says it's furloughing the majority of its employees. Its stores have been closed since March 18 and there's no sign when they will reopen.
Read more »
Macy's, Kohl's and Gap are furloughing most of their workersThe furloughs due to the coronavirus pandemic affect hundreds of thousands of workers
Read more »
New York Amazon warehouse workers strike to protest the firm's response to coronavirus - Business InsiderAmazon warehouse workers in New York will strike after an employee tested positive for coronavirus
Read more »
Macy's to furlough most of its 130,000 employeesMacy's will be putting the majority of its 130,000 workers on furlough, company says.
Read more »