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Business

Macy’s to furlough most of its 130,000 workers, with fewer cuts to digital staff

By
Reuters
Published March 30, 2020, 12:09 p.m. ET

Macy’s said on Monday it would furlough most of its 130,000-strong workforce starting this week as all of the company’s stores have been temporarily shut due to the coronavirus pandemic.

The department store chain added that there would be fewer furloughs in its digital business, which is still operational, supporting distribution centers and call centers.

Macy’s had about 130,000 employees as of Feb. 2.

Shares of the retail giant were flat on Monday morning, trading at $5.51.