Macy's Furloughs Most Of Its 130000 Workers

Macy's Furloughs Most Of Its 130000 Workers

An empty parking lot surrounds the Macy's at the Roosevelt Field Mall on March 20 in East Garden City, N.Y. The retail chain had previously announced plans to close about 125 stores over the next three years.

After temporarily closing its stores nationwide in response to COVID-19 outbreak, Macy's today issued a statement saying that they lost the majority of their sales due to the store closures.

The furloughs begin this week and also include the Bloomingdale's and Blue Mercury brands, as the company is "moving to the absolute minimum workforce needed to maintain basic operations", the statement said.

Right now, that's not possible in the United States, because there isn't an adequate amount of testing, but "once you bring the numbers back to a manageable level", Konyndyk said, expansive testing and contact tracing should become the prominent methods for suppressing the virus' spread.

To survive, it has suspended its dividend, drawn down its line of credit, frozen hiring and spending and canceled orders.

Retail store giant Macy's said the coronavirus is causing a "heavy toll" on their business, which has made them had to make a hard choice when it comes to their store employees.

Macy's has about 130,000 full-time and part-time workers as of Feb 2., according to a report by The New York Times. Almost 3.3 million people filed for jobless benefits in the week that ended March 21 - a number that shattered records going back to 1967.

Unemployment is soaring around the country.

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