In a move affecting 4% of companies workforce, Macy's makes a decision to cut 7,000 workers. This is a hard hit with many of their employees scrambling to find jobs in an economic period where available jobs are few and far between. Macy's will save an estimated $400 million a year starting in 2010.
It is unfortunate to hear that so many retailers are shutting down and laying off so many people. This will have a major impact on the number of jobs that will be available to those of us students graduating in May. My hope it that this will change very soon. Macy's is a fortune 5oo company. If they are struggling with this horrible economy, then what will happen with smaller companies.
(Pictures and Story From: http://money.cnn.com/2009/02/02/news/companies/macys/index.htm)
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