I worked for the company for 28 years. "Rumors" about job cuts are not rumors- they are C suite leaks to reduce the rabble rousing when they actually happen. And they will happen. If you are not being boiled in this lobster pot your turn on the menu will come. In the meantime, keep your resume updated and contacts close.
The piece another poster spoke of by Christopher W. is a MUST READ.
We must conclude:
Senior management is delusional and in denial about their ineptitude. (unlikely) OR
The priority is to drive down costs to make the value look more appealing for possible takeover which will temporarily bump up stock prices for a lucrative cash out.
Thoughts?
2 replies (most recent on top)
Everyone into the life boats 🛶, We're on a sinking ship 🛳️, But yeah let's keep pretending we're not and all is fine. 🙄
Well good call. If you look at lord and Taylor. They had hundreds of stores , but it was weighting down Hudson Bay. So what did they do ? Shrink ( sound familiar) then when lord and Taylor was small enough they sold it for 100 million to le tote a Online clothing company . Macy’s ceo is doing the same thing. Shrink pay off big debts (13 billion) get stock up. ( it’s Xmas and it is tanking down to $14.39) the malls are dead , parking lot is empty , and Macy’s is run like Jurassic Park. It’s a moving Antique If lord and Taylor ( which is a nicer store and just as old ) can’t make it. Macy’s will be flushed down the retail toilet in about 2 to 3 years