For the second half of March, all department stores under the red, star-shaped Macy’s umbrella have been shuttered due to the ongoing COVID-19 crisis. While online shopping is still available for consumers, closing down the almost 870 physical Macy’s properties has hit the business hard.
In a statement today, Macy’s Inc.—which operates under the Macy’s, Bloomingdales and Bluemercury brands—announced that, even after taking measures to remain financially flexible such as freezing hiring and spending, reducing receipts and canceling some orders, the company will put the majority of its workforce—about 125,000 employees—on furlough beginning this week.
The
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