Macy’s Inc (M.N) said on Thursday it would lay off about 3,900 employees in corporate and management positions as U.S. businesses try to save cash in the face of dwindling demand caused by the COVID-19 pandemic.
Macy’s had in May warned of nearly $1 billion in operating losses in its first quarter and said it would turn into a “smaller company”.
The job cuts come at a time when unemployment figures in the United States are already high. Rising coronavirus infections in many U.S. states including California, Texas and Florida are likely to hurt employment further as some people stay away from consumer-facing establishments.
The board game Monopoly has always taught some important economic lessons: The benefits of owning real...
Before Sayuri Tsuchitani became an entrepreneur, she spent two decades on her feet: cutting, coloring and...
For his work chairing the US Federal Reserve, Alan Greenspan, who has died aged 100, was...
Soaring gasoline prices, triggered by the U.S. war with Iran, have pushed inflation to its highest...
