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Post Info TOPIC: Macy's Lays Off 2,500 - 950 in Minneapolis
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BCBG

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Macy's Lays Off 2,500 - 950 in Minneapolis
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Hi Everybody -
   Awful news today for Minneapolis and elsewhere - 950 headquarters employees are losing their jobs.  Macy's is consolidating.  These were high paid executive jobs, too. 
  Is the department store going the way of newspapers?  Obsolete?
I feel so sorry for the workers, and for our local economy, too.



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Hermes

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well, living in Michigan, I know the devastation that massive lay-offs bring.  I definitely believe the b&m stores suffer loss of sales to the internet...

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"Fashion can be bought. Style one must possess." ~ Edna Woolman Chase
Suasoria


Chanel

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It's so frustrating. They have hardly any competition left, and they virtually set their own costs in merchandise.

I don't think they're becoming obsolete per se, but it seems that hard economic times, housing crisis, and consumer confidence are affecting them as well as lower-end retail.

On the other hand, Saks and Neiman Marcus showed sales increases, so the high end seems to be unaffected.

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