Macy’s | What HR needs to know about furlough

Recently, the US department store Macy’s furloughed the majority of its 125,000 staff members due to the coronavirus crisis, which forced the retail chain to shut up shop.

According to CNN Business, the employer revealed last month that the pandemic had taken a ‘heavy toll’ on business. As such, Macy’s, who owns Bloomingdale’s and Bluemercury, closed all of its 775 stores across the US to help stop the spread of the virus.

The company revealed that it had lost the ‘majority’ of sales because of the store closures and as a result introduced new changes to help boost the business such as stopping hiring and spending and drawing down its credit line.

In addition, Jeff Gennette, CEO of Macy’s, said that the firm’s Board of Directors will stop receiving their salaries.