What a shock... It happened so quickly. Out of nowhere.
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Was everyone laid off? Including Loss Prevention and Management?
Kohl's is reported to have approx. 5 months cash on hand, too. My suggestion, polish up that resume and start your job hunt from quarantine. If you don't you're going to be behind the proverbial 8-ball when we start rolling again.
I don't know how this could be shock and it was NOT unexpected. I'm surprised they waited as long as they did.
Macy’s is cash strapped, so is kohl’s but it is in a better financial situation than Macy’s. Macy’s does not even have 5 months cash to survive.
Cash flow problems, we knew this was coming.
Macy's did the same thing today - 115,000 people lost jobs.
Overall, about 200K people got pinkslips today.