It wouldn’t be a total surprise, however, based on the challenging retail landscape, and the year over year store closures on the horizon, plan to anticipate corporate layoffs coming out of Christmas, and entering the month of January, as we commence the annual hunger games.
May the odds ever be in your favor
Macy’s is losing money and has been racking up debt for years. They are closing stores and selling the properties, just to have enough to keep up with minimum payments on the big loans they’ve taken out. Sears went through a similar decline.
I work at a locatiion in the Ohio region, and there have been strong indications that there will be cuts in the Central Corporate offices, including progress place in Sharonville, Oh.
Only ~300 Macy’s stores will survive after it’s all said and done with more closing yearly to optimize store fleet. 150 stores West and 150 stores East with 10-12 DVP’s per region.
I think you mean Macy's Central can easily be divided in two and absorbed by East and West, correct?
Ok, so most people call that Macy’s Corporate. And, yes, they should be worried, too. But, Macy’s Central Region is now set to be easily divided in 2, that’s where I’d be really worried.
Central refers to all corporate jobs, not the region in the middle of the country. Central jobs include roles in HR, Buying, IT, ect...
Macy's Central is, basically, W PA, MI, IL, WI, MN, MO, KS, IN, OH, KY, TN, AZ, TX, GA, AL (I think I got it all). At this point, with the reduction in stores, it could easily be split East and West.
What is under Macy's Central?
When's the last time anyone can remember when we closed significantly less than 55 stores in a year and didn't have yet another reorganization? The people in the 55 stores that are closing at the end of the year already know and can be proactively looking for another job, those of us in the divisional, regional, and central teams won't find out if we still have a paycheck until sometime in January and we typically only have until the end of the month to try and find another position before we are kicked to the curb.
Even with the pending possibility of a layoff, I would rather take my chances in the annual hunger games than have to go back into the stores again. We keep asking more and more from less and less people in our stores and it's turned into a meat grinder of a career.
Macy’s Central should be worried.
Yeah, it’ll be interesting if after just reducing Div/Regs, do we reduce again now or wait until all 150 doors are gone? January WK1 is always a cliff hanger!