The US Recovery Is So Strong, Macy’s Just Fired 2500 And Announced The Closure Of Five Stores!

Socio-Economics History Blog

Bankrupt store with closeout signs.

  • The US Consumer Is So Strong, Macy’s Just Fired 2500 And Announced The Closure Of Five Stores! 
    by Tyler Durden, www.zerohedge.com
    Just out from Macy’s, which first said the following: “The 2013 holiday season was successful for Macy’s and Bloomingdale’s as we offered fresh and distinctive merchandise, delivered great value to the customer and provided a robust omnichannel shopping experience… Even in a questionable macroeconomic environment with challenging weather in multiple states, the positive response from our customers during the holiday season is yet another vote of confidence that our well-established strategies continue to work for us.” What well-established strategies one may ask? Why the following of course, which was also just disclosed in a separate news release “outlining cost reduction initiatives to support continued profitable sales growth”: “Approximately 2,500 employees are expected to be laid off and are eligible for severance as a result of…

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