M is too big to fail. We may be shuttering over a hundred stores and just the knowledge of that is enough to make any employee scared, but remember we are trying to accelerate our digital business and everything that entails. Every employee has a choice, take your chances and stay on the bandwagon, or jump ship. Personally I’ve been with the company to long to abandon ship.
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They have brain washed you into believing something that isn’t true, too bug too fail doesn’t exist. No one is safe, no matter the position. I wouldn’t leave a job for no job of course but you should be looking for other jobs.
Do you know what happens to someone who stays on a sinking ship? They go down with it. Don’t be the band playing it out on the titanic. Save yourself and your family if you can. Don’t expect a miracle though, it won’t happen.
This pandemic as change the landscape in retail. Sooner or later Macy's will downsize there stores. Malls are dying and alot of retail stores and resurtanrs are leaving the malls for good.
LOL, There's no such thing as too big to fail in retail. Sears was once the #1 retailer in the world, so what makes Macy's so special?
I respect your loyalty towards the big M but unfortunately the company doesn't show you the same respect in return. I myself had that same loyalty while working there for 5 years...until they give me the boot early last year. Even then I still supported them hoping for a callback from the laid off list, nothing happened, then tried reapplying to the company for another position and had an interview set up, nothing happened. All the hard work and dedication I gave to the big M and got kicked to the curb like a used battery. So all I can say is best of luck to you if you manage to dodge their deadly lay off list. And one thing I would like to add as well in terms of a company being too big to fail, look what happened to ToysRus.
If Sears could collapse any company can. I worked for Sears from 1979-1992 and it was booming back then.
Please wake up People,,,malls going nowhere bye bye.. Everything will be online why pay for space and employees when you can have some one in their pjs do customer service from their home with screaming kids in the background not knowing what they are talking about..no need to leave your home.. Malls are getting darker and darker. People aren’t shopping anymore in malls they would rather stay home. Amazon is growing larger and larger.Sears, Kmart Lord and Taylor’s the list goes on and on.. Wake Up!
Post below sounds about right. No more managers, bought out and only some stores open run by part time Macy’s is in a death spiral
No retailer is too big to fail. Macy's will be bought, downsized, and staffed by part time employees with an emphasis on online business and store support
Too big to fail? Tell that to Sears
Bigger the company, the more catastrophic the failure..
Yeah okay.. Maybe it'll survive in name only in a few years like many others before it.
- 5 years left as I always said.
I like the posters positivity about the company and saying “ I’ve been with the company to long to abandon ship”(my reply) because you can’t find anything else out in market.
You know it and if you go out looking for a job you will get slapped so bad that you can imagine. So it’s better for you to not even burn that ship.
Young kids or managers can still avail their options may be not you cause if you are saying you have been with a company so long. That’s my associate who said that and that person is in close to 60’s.
Which they know that if they quit that is the end for them or work at Walmart for minimum wage.
So again to the poster if you are salaried don’t burn your ship or else be ready for minimum wage.
Truth is not always sweet.
Bloomingdales? Have you walked into one lately? It’s dead all the time.
Too big to fail implies a government guarantee should the company teeter on the brink of bankruptcy due to systematic contagion effects. The Federal Reserve nor US Treasury will not be coming to the rescue to put out a mismanaged retailers financial fire. Conversely, the name ‘M’ will have some moderate semblance of ‘brand equity’ as long as boomers and a small percentage of Xers are alive. Therefore a sale to Private Equity is certainly plausible especially if anything attractive in Ms real-estate portfolio remains.
It is obvious what JG is doing in attempting to hold as much territory as possible in hopes that doing so will allow M to rebound as herd immunity combined with warmer weather thaws those aforementioned demographic groups from sheltering in place. However, if your product is ‘weak’ or unappealing holding territory only drains cash. As was pointed out to Senior Leadership during the ‘furlough period’ once a store goes dark it is very hard to reverse. Hence Store Managers traversed stores solo while everyone else was furloughed prior to omni and curbside implementation.
Moreover, think about the incentive for Steer Co. The longer they extend and pretend the better the probability of stringing together maybe 2 quality quarters of EPS and Profit which directly leads to bonuses, escape door promotions and golden parachutes to retirement.
But one would be deceiving themselves if they were to think M is ‘Too big to fail.’
Sears? K-Mart? JC Penney's? Gone with the Wind. . .
Bloomingdale's is still worth keeping, but that can just be split off and sold.
Too big to fail?! (((rolleyes))) I seem to recall that folks once believed the Titanic was too big to sink..........I think we all know how that turned out.