Has anyone heard any rumors of when the Cincinnati and New York corporate offices will open? I've checked insite and it's vague, and I've had no contact from HR or my manager since the furloughs started.
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If you don't think fewer stores won't equate to fewer corporate positions, you should remember that stores generate sales and any reduction in store count will require a similar expense reduction. Earnings preservation will be crucial in the days to come and will be needed to service our debt. We are opening hundreds of stores in the next two weeks, yet no word as to when corporate, regional and divisional executives will be brought back from furlough. We are learning something that many of us have known for some times, that our company has excessive middle management positions (even after the recent reductions earlier this year) that add little real value to our day to day operations.
We are going to see how well we can run our business with the streamlined structure we have in place today and if it continues to perform as well as expected, there will be more reductions across the organization. We will be smaller, more nimble, and focus on driving sales and service without the need to push direction through three or four layers of management to do so.
Smaller doesn't mean less headcount at corporate. It could mean a lot less stores. Blue Mercury is for sale. Rumor is the remaining 96 Neighborhood stores due to close over the next 3 years will all close this year once the stores can all reopen. And it will probably than the 96. I think it will be about 50 more, leaving about 350 full line Macy's stores.
I realize we are going to be smaller but it would help if upoer management can let those who won't be coming back know so we can get along with our lives.
Haven't heard jack sh– since we left from our store manager.
Macy's in 2021 must be 45% of Macy's 2019 ...
All corporate, regional, and divisional positions and staff are under reviewed. We will not be bringing everyone back. JG repeatedly said during his update last week that we will be a smaller company when we return this year and an even smaller company next year. We must reduce expenses to survive, total year sales impact from Covid-19 projected to be from 60% to 80% of LY volume.
It is sad that all of the people who just made it through the reorganization in February at these levels once again face uncertainty regarding their positions, but to survive as a company drastic actions are needed. We will come out of this a stronger, smaller, and more nimble organization. Good luck to the leaders currently on furlough.
I admire your leadership.
When I was furloughed I was asked to sit tight, we will be asking you back. That was told to me in store. Besides 1 text to say hi 3 week after furlough, I've had heard from no one.
I love Macy's. I have always been treated fairly by the people there. Some things you have to take in stride.
I'm sorry to hear about the lapse in communication from your people leaders. I am maintaining at least weekly communiques w/my team (it was my understanding that we are supposed to). In lieu of that, please do read the weekly updates to all colleagues in Insite (posted Tues evenings) on the Covid-19 tile-look for the communications tab after you click on the tile & they're all listed there. JG will be posting another one there tonight. I posted a new comment about the upcoming investor/media chat wjth Gennette and other key board members airing live this Thur.