Macy's Announces 7,000 Job Cuts (Obama's Fault)

ABC News ^ | February 2, 2009 | Eleanor Hong, Scott Mayerowitz and Alice Gomstyn

[an amused spectator]

The crumbling economy has taken its toll one of the largest department store chains, with Macy's announcing today that it will cut 7,000 jobs, about 4 percent of its workforce.

The company's cost-cutting measures include restructuring its retail divisions and reducing planned expenses. Macy's Inc. operates more than 840 department stores -- under Macy's and Bloomingdale's -- across the nation, with corporate offices located in New York and Cincinnati.

[an amused spectator]

Morgan Stanley (up to 5% of its 47,000 strong workforce) & Goldman Sachs are also thinking about a SECOND round of job cuts.

Geez, maybe Hillary! knew something...

[jla]

Macy's Announces 7,000 Job Cuts

"Help is on the way!" --- Barack Hussein Obama November 2008

[autumnraine]

What are we up to 150,000 announced in one week now?

[geo40xyz]

It's Bush's Obama's Fault!

It's Bush's Obama's Fault!

[RushIsMyTeddyBear]

Yeah. They DO need a miracle on 34th street.

[UCFRoadWarrior]

Hate when jobs cuts are announced anywhere...hopefully these folks can find some employment soon

[Mopp4]

I'm sure all of these workers will be able to jump right into Zero's bridge-building infrastructure jobs.....
/rolls eyes

[griswold3]

Either the numbskulls in DC don’t understand that the first thing they need to do is FIX the financial system, bring back confidence to commerce, and stop the bleeding OR they want this to happen for political reasons.
You pick.

[Zeddicus]

Didn’t Obama say he was going to create 3,000,000 jobs in his first year? Well, with the 150k losses, he’s up to 3,150,000 now with one month down. So he needs to create 286,364 new jobs every month for the next 11 months.

Better get busy.

[nothingnew]

Hate when jobs cuts are announced anywhere...hopefully these folks can find some employment soon

I'm with you FRiend, I'm still UE'd and looking. Doesn't look good.

I foresee a lot of, shall we say, unrest, coming very soon. I'm talking BITS. If you don't know what that means, see my homepage...

FMCDH(BITS)

[nothingnew]

Easy choice as far as I'm concerned. Marxism in this once great Republic just jumped on the fast track in a wink of an eye. Get ready. BITS on the horizon.

FMCDH(BITS)

[bgill]

Guess they don’t need the extra Christmas help these days.

[MamaTexan]

I work there. Its been on the company website for months.

[griswold3]

Sorry. Translation, please?

[an amused spectator]

Hate when jobs cuts are announced anywhere...

I'm not liking the look of things. These kind of job cuts have a pebble-avalanche effect. I'm convinced neither the old crew nor the new crew had or have a clue.

hopefully these folks can find some employment soon

Amen to that, brother.

[an amused spectator]

See his home page.

[JoanneSD]

Move the corporate offices out these expensive cities... that would save a bundle..

[SampleMan]

Underdog was the first to go. He hasn't been pulling his own weight in years.

[jla]

I've noticed something about dept. stores, (tell me if you haven't had the same experience), but a lot of their clerks are acting very similar to fast-food workers. Rude, apathetic, and disinterested in the customer.
Now, this attitude isn't as prevalent in dept stores as it is in fast-food places (which I rarely patronize), but I have seen a shift towards the negative.

[PA-RIVER]

I think ACORN might be able to fill all these jobs ....

We need change. Obama can change the world! Hope ! Change ! Marxism! Yes we can !!!

Price controls, Hostages, shortages, and lines are next .... change!!!!