Macy's says it is furloughing a majority of its 130,00 employees. The retailer closed all of its more than 500 stores this month as the coronavirus spread.
A cyclist passes Macy's in Herald Square, Monday, March 23, 2020, in New York. Macy's stores nationwide are closed due to the coronavirus.
A cyclist passes Macy's in Herald Square, Monday, March 23, 2020, in New York. Macy's stores nationwide are closed due to the coronavirus. The company on Monday said it is transitioning to an ’’absolute minimum workforce” needed to maintain basic operations.Employees who are enrolled in health benefits will continue to receive coverage with the company covering 100% of the premium.Macy’s closed all of its stores this month, more than 500, as the coronavirus spread.
To survive, it has suspended its dividend, drawn down its line of credit, frozen hiring and spending, and cancelled orders. Macy’s is now evaluating all financing options.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Macy’s Will Furlough The Majority Of Its 125,000 EmployeesThe department store said the majority of its sales have evaporated as a result of temporary store closures.
Baca lebih lajut »
Macy's is furloughing most of its workers without pay - Business Insider'My top priority is having cash sufficiency in our company during the crisis,' CEO Jeff Gennette said in an email to Macy's staff on Monday.
Baca lebih lajut »
Macy’s Inc. Furloughing Most WorkersThe retailer continues to search for ways to maintain financial flexibility.
Baca lebih lajut »
APA Reduces Salaries Over $100K Amid PandemicThe agency also is implementing suspensions and furloughs in hopes of avoiding layoffs during the industry slowdown.
Baca lebih lajut »
Delivery workers are keeping California fed. They say no one's keeping them safeCoronavirus relief efforts are leaving some delivery workers unprotected, they say.
Baca lebih lajut »