<p>Macy’s (NYSE: M) furlough 2020 news will cause the company to cut costs when dealing with coronavirus from China.
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Macy’s furlough 2020 will see the company cut hours for most of its employees as it plans to be closed until May. However, the company will still retain some employees to ensure that its online operations can continue to operate.
Macy’s currently has about 130,000 employees and most will be affected by the latest news. This includes its employees who work at Bloomingdale’s and Bluemercury stores.
Here’s what a new release says about Macy’s furlough 2020 plans.
“Our highest priority is health and safety for our customers, colleagues and communities during this unprecedented crisis. All our stores have been closed since March 18 and will remain closed until we have a clear view when it is safe to reopen. ”
While Macy’s employees are likely to be dissatisfied with the latest news, there are some positive notes. This includes the company that promises to continue to offer health benefits to its employees. It also notes that it will cover 100% of the premiums for its employees with health benefits.
Macy’s furloughs 2020 means that there will be some changes for employees, but it is not the same as being laid off. Readers can check out this article to learn what the difference is between the two.
The M share fell by 7.64% as of Tuesday afternoon.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/03/macys-furlough-2020-hitting-employees/.
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