Posted on 01/10/2016 6:09:11 AM PST by SeekAndFind
Macy's is slashing jobs, a harbinger of hard times for retailers after a holiday season that saw a noticeable shift to online shopping and away from physical stores.
The nation's largest department store chain, which also operates Bloomingdale's, said late Wednesday it is cutting up to 4,800 jobs and trimming its profit outlook after a miserable holiday season.
"I think Macy's is likely to be a canary in a coal mine," said Ken Perkins, president of Retail Metrics, a retail research firm. He said retailers witnessed an acceleration of the shift toward online and mobile holiday spending in 2015.
About 2,110 of the job cuts at Macy's will come from reducing staffing at stores, eliminating duplications in back-office operations and consolidating regional store groups. The remaining 2,710 job cuts will come from the store closings that Macy's announced last fall, spokesman Jim Sluzewski said.
As of Wednesday, Macy's had about 163,000 workers.
The moves are part of Macy's ongoing campaign to position itself to compete in a retail world where increasingly demanding shoppers are going back and forth between stores and their mobile devices. Analysts expect more retailers to announce they're shrinking their store counts further and making other moves to make their organizations leaner.
(Excerpt) Read more at abcnews.go.com ...
I haven’t shopped there in a few years, not even online. And never will again. Buh bye Macy’s. Don’t let the door hit you....
Maybe if they carried some Trump merchandise?
I wonder if this is at least partly continuing fallout from their pompous and PC slam of the Donald last summer.
Actually, I don’t want to see Macy’s go down. I think they go the point.
Used to be a good place to get business attire. Years ago they started trying to go hip with the “ugly chic” - Haven’t been there since.
These clowns always learn the hard way by pissing off 55% of the Country.
Dear Macy’s
Your “Kinky Boots” display at the Thanksgiving Parade a couple of years ago was an affront to many. Keep up the good work - suggest you redouble your efforts to be inclusive. I’m sure all the fringe elements of society will flock to your stores and rescue you from the abyss.
Are these “full time” or temporary employees?
I stopped shopping there because they seemed to make a point of hiring muslims and then decided to allow men to use the lady’s room. Whether they carried out that threat, I have no idea since I haven’t stepped foot in one in at least 2 years.
It is sad because of the lost jobs, but their merchandise sucks. I don’t know who their buyers are or why the corporation ops for such crappy styles, but it is hurting their business, big time. My wife couldn’t find anything worth while to buy.
How many of those were temporary help for the holidays?
If Macy’s had not turned their turrets and opened fire on Donald Trump, I might have shopped there this Christmas.
But given the fact that they turned on him, Macy’s can KMA.
Hey enemedia, you can thank your never had a real job quota baby low IQ Dork-O-dent Muslim butt kisser for the bad business news.
The Holiday that dare not speak its name.
NO, no, no...I heard today on local news that things were awesome. Detroit was rebounding all thanks to Obama and car sales were awesome because of Obama and the economy was just peachy because of Obama.
What alternative world is Macy’s living in? Why does Macy’s hate Obama?
I didn’t shop there this year either...
If they had continued to do so, they would have had a windfall of Christmas shopping -- neckties, shirts, cologne, food products -- lots of Trump branded merchandise. Oh, well...
Same for NO senior women’s conservative clothing. Can’t even get my shoe size. Much less a Church dress.
I’ve not been in a Macy’s in 5 years, nor Dillard’s, or Sears. If I need a bra I go to Penny’s. Don’t shop during the happy holidays either.
I buy gift cards and the grands and great grands can go to Amazon and get what they want. I get gas points from Kroger’s and it takes 10 minutes to shop, and I do it before the happy holiday crap goes up. Hubby got $1 20 gallons off gas from Dec, and so did 1 of our sons, and the neighbor who watches the house and gets the mail for us when we go out of town, as the other son didn’t need it.
The big mall in Memphis is high crime and has NO GUNS allowed signs up.
Stockman: Only 11,000 Jobs Last Month, Not 292,000
NewsMax ^ | 01/09/2016 | David Stockman
Posted on 1/11/2016, 4:06:12 PM by GilGil
So what happened to the non-seasonally adjusted (NSA) job count in December at similar points late in the course of prior cycles? Well, in December 1999 about 140,000 jobs were added and in December 2007 there was a NSA gain of 212,000. This time we got the magnificent sum of 11,000, and by the way, last year was only 6,000.
The real news flash in the December “jobs†report, therefore, is that even by the lights of the BLS’ rickety, archaic and virtually worthless establishment survey, the domestic economy is dead in the water. We are not on the verge of “escape velocity,†as our foolish monetary politburo keeps insisting; the US economy is actually knocking on the door of recession.
http://www.freerepublic.com/focus/f-news/3382446/posts
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