by Michael Keenan, Edge City Design
...today announced it will furlough most of its 130,000 workers. Online business will not be affected!
Employees who are enrolled in health benefits will continue to receive coverage with the company covering 100% of the premium.
“We expect to bring colleagues back on a staggered basis as business resumes,”the company said.
Macy’s closed all of its stores this month, more than 500, as the coronavirus spread. To survive, it has suspended its dividend, drawn down its line of credit, frozen hiring and spending, and cancelled orders. Macy’s is now evaluating all financing options.
Lets us know your thoughts or any ideas on what you or your business is doing during this trying time.
ABOUT MICHAEL: With many years of experience and himself learning directly from the pros, Michael is the 'go-to' for retail companies going through these types of transitions. He has the connections (suppliers, supply chain, distribution, etc.) and the know-how!
Get a FREE Consultation with me, Michael ▶︎▶︎ Michael@EdgeCityDesign.com