Signage above a Macy's store entrance at the Micronesia Mall in Dededo on Jan. 8, 2020. Macys Stock 02
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NEW YORK (AP) — Macy’s says it will stop paying tens of thousands of employees who were thrown out of work when the chain closed its stores in response to collapsing sales during the pandemic. The majority of its 130,000 employees, including stock people and sales clerks, will still collect health benefits, but the company said that it is transitioning to an “absolute minimum workforce” needed to maintain basic operations.
Macy’s has lost the bulk of its sales due to the temporarily closing of its stores starting March 18. The furloughs are bad news for an economy in which the retail industry supports one out of four workers.
