Macy's to cut thousands of jobs, close 5 stores (Atlanta, Bloomingdale: 2015, construction)

[LynnHarris]

"Macy’s Inc. will lay off about 2,500 employees as part of the retailer’s plan to implement cost reductions...

Macy’s (NYSE: M) estimates the changes, including organizational changes and store closings, will generate savings of about $100 million per year, starting in 2014..."


Full Story: Macy's to cut thousands of jobs, close 5 stores - Atlanta Business Chronicle

[JPD]

No Georgia stores are closing.

[Atlanta_BD]

What I'm gathering that is that although they've had an increase in profits, they are closing stores and slashing jobs so that they can have fewer people do more work so they can keep their profits increased.

So much for big business being the "job creators."

[AtlJan]

This "big business" is just feeling competition from other big businesses--namely big box stores like Walmart, Target and Old Navy.

[AtlantaIsHot]

Originally Posted by Atlanta_BD

What I'm gathering that is that although they've had an increase in profits, they are closing stores and slashing jobs so that they can have fewer people do more work so they can keep their profits increased.

So much for big business being the "job creators."

Well it is very difficult to hire scores of people when the national and state governments are constantly erecting more and more barriers to business and imposing ever increasing layers of regulations, rules, and restrictions that make it virtually impossible to run an effective business. All this has now reached a fever pitch with the current government. You can't systematically tear down the only economic system that has been proven to work-capitalism-and expect it to continue laying golden economic eggs. This isn't Obama's fault either. Americans are turning on economic freedom in favor of a welfare system. Americans now want the government to provide them with endless "free" goodies. The trouble with that is nothing is EVER free. Every time a floor collapses in the government's tower of impossible promises the people of this country continue to demand more and more of it. Ever increasing socialism never worked anywhere else. It won't work in the U.S.A. either.

[ElleKaye]

What is considered the big dept store in Atlanta? I used to like Rich's when I would visit, but I think Macy's bought them. Well, I guess I'm relatively certain Macy's bought Rich's because the locations I knew of now say Macy's lol.

Macy's kind of reminds me of NYC in the same way that Sak's does or that Maison Blanche used to make me think of New Orleans. I was just wondering if there was dept store associated with Atlanta in the same way.

[ttownfeen]

Originally Posted by AtlantaIsHot

Americans now want the government to provide them with endless "free" goodies.

Such as?

[midtown mile girl]

Originally Posted by ElleKaye

What is considered the big dept store in Atlanta? I used to like Rich's when I would visit, but I think Macy's bought them. Well, I guess I'm relatively certain Macy's bought Rich's because the locations I knew of now say Macy's lol.

Macy's kind of reminds me of NYC in the same way that Sak's does or that Maison Blanche used to make me think of New Orleans. I was just wondering if there was dept store associated with Atlanta in the same way.

Rich's was bought out by Federated, the company that owns Macy's and Bloomingdales.
There is no longer a regional department store that is associated with Atlanta in the way you were thinking.
I do miss Rich's because I thought the merchandise was a better mix than what Macy's offers now.

[gtcorndog]

Originally Posted by Atlanta_BD

What I'm gathering that is that although they've had an increase in profits, they are closing stores and slashing jobs so that they can have fewer people do more work so they can keep their profits increased.

So much for big business being the "job creators."

So they should employee more people than they need in under performing stores just to be nice?

[DaBurgh]

Ok, they are eliminating jobs and closing stores but opening new stores and apparently adding jobs elsewhere.

The title of this thread should have been something like "Macy's shuffles operations" but it went with the dramatic title of job losses.

However, Macy’s states it continues to add jobs in other parts of the country, such as in online operations, direct-to-consumer fulfillment, and new stores. Macy’s total workforce is expected to remain at about 175,000 employees.

Eight new and replacement Macy’s and Bloomingdale’s stores are currently planned and/or under construction, as previously announced.
New Macy’s will be opening in:
University Town Center, Sarasota, Fla. (160,000 square feet; to open in fall 2014; approximately 175 associates);
Shops at Summerlin, Las Vegas, Nev. (180,000 square feet; to open in fall 2014; approximately 160 associates);
Mall at Bay Plaza, The Bronx, N.Y. (160,000 square feet; to open in fall 2014; approximately 225 associates);
Plaza Del Caribe, Ponce, Puerto Rico (150,000 square feet; to open in fall 2015; approximately 275 associates);
Mall at Miami Worldcenter, Miami, Fla. (195,000 square feet; to open in fall 2016; approximately 150 associates).


Much ado about nothing.