Has anyone heard anything. Macys notious to layoff dec/ jan. Corporate & Retail. I dont think they did last year (to save PR face) which makes me concerned for this year.
Any corporate insight / chatter would be appreciated.
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Im hearing major cuts among the smm ops mba positions, supposedly to add more hourlies to floor, but we’ve all heard that before. Also heard a cherished position will be returning to help make stores look good again
It's retail. It happens every year after the holiday season. All retail companies do it to a certain extent.
TJ Maxx / Marshall announced today that they are closing stores across the country. These are similar in size to Market by Macy's locations and carry merchandise similar to Macy's Backstage. The company quoted economic outlook and lagging sales, so it is reasonable to expect similar changes at Macy's in the new year.
The company has a history of announcing the closing of under performing locations the first week of January. If your store is selected to be closed, you will typically have about three months to find another job as the store moves through the liquidation process. If you are a colleagues or manager in good standing, you will probably be offered a position at another store in the market.
Expect significant changes in 2024 including store closures as Tony takes the helm. The board and investor community have lost patience with the current leadership's unflagging inability to realize sustainable growth. The strategic initiatives and continued focus on cost savings under Jeff's reign have failed to spark innovation and the condition of the fleet continues to decline. Tony and his new team will face an uphill battle in the coming year and exiting under performing locations that require millions of dollars in capital to bring them to standard is a foregone conclusion.
Nah never December. Closer to February
It's coming. No way with sales being as bad as they are that they can avoid it. Stores and corporate will be affected. Store closures also. Those will be announced first, then layoffs in the stores will be communicated and people severanced out or place in other jobs by end of Jan.