[nyconse]

I understand fiduciary duties...if the economy is seriously tanking and 7000 must be laid off...don’t you think it might be a good idea to delay the bonus and put your company above your personal compensation?

[Arguendo]

$1.4 million isn’t going to kill the company. These execs are employees of Macy’s, so it wouldn’t make much sense to them to give up money to which they’re entitled for the sake of largely outside shareholders.

[magritte]

This layoff is only 4% of Macy's employees...here's more info about it FYI...

"Macy's will integrate all its functions into a single unit, with its central buying, merchandise planning and senior store management and marketing units to be located primarily in New York. Its corporate affairs office will remain in Cincinnati."

"The company said it would not raise salaries for executives in spring 2009 and will also cut the amount of matching 401(k) contributions in the year. It will recommend to the board to reduce other benefits for executives including company cars, life insurance and merchandise discounts."

http://money.cnn.com/news/newsfeeds/articles/reuters/MTFH75503_2009-02-02_21-22-51_N02458041.htm

[psjones]

You do realize Macy’s will be closing some stores that are not doing well. You expect them to send their employees to a job bank the way the U.S autoworkers have done? Some of you expect them to keep 7,000 employees even though there are not enough customers to justify keeping that many employees because they doled out some money to their executives who, I would think, have had to bust their butt and put in long hours to get to be in upper management. I wish you all would demand of our politicians what you demand of the private sector. How about telling congress no pay hikes, no cars at taxpayers expense, tell Pelosi she has to return her jet.