Macy's Planning To Cut 3,900 Jobs
Wochit Business
2020-06-25
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Business Insider reports that Macy's is laying off about 3,900 corporate jobs.
The company said it expects the job cuts to lead to about $365 million in savings for the rest of fiscal year 2020.
It estimates the move will save $630 million in 2021.
"We know that we will be a smaller company for the foreseeable future.
"Our cost base will continue to reflect that moving forward," CEO Jeff Gennette said in a statement.
The company said it expects the job cuts to lead to about $365 million in savings for the rest of fiscal year 2020.
It estimates the move will save $630 million in 2021.
"We know that we will be a smaller company for the foreseeable future.
"Our cost base will continue to reflect that moving forward," CEO Jeff Gennette said in a statement.
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