Macy’s to slash 3,900 corporate jobs in restructuring

https://www.cnbc.com/2020/06/25/macys-to-slash-3900-corporate-jobs-in-restructuring.html

Macy’s announced Thursday it is cutting 3,900 corporate jobs — 3% of its total workforce — to reduce costs as it struggles with the effects of the coronavirus pandemic.
The cuts represent about a fourth of Macy’s corporate workforce.
The department store chain said it expects to save about $365 million through the layoffs in fiscal 2020. It said it will save roughly $630 million on an annualized basis.
Macy’s said it has reduced staffing across its stores, supply chain and customer support network, which it will adjust as sales rebound.

Uncle Sugar can't print fast enough...