Macy's LayoffsMacy's is huge chain of American department stores based in Cincinnati, Ohio. Here one will have verities of merchandise with certain brands in higher end stores. Addition to this the company has designed some regional flagships in the major centers of Urban and about 807 U. S. Stores. There is also the production of annual Macy's Thanksgiving Day Parade on the streets of New York City. The parade is being held since 1924 for every year.
Rowland Hussey Macy has founded Macy's in 1858. First, the company set up a dry goods store in Haverhill, Massachusetts in 1851. The company started its business on October 28, 1858 with sale of $11.06. It was first day of the company. However, recently that is on February 2, 2009 Macy's announced that they are going to cut 7,000 jobs or four percent work force. They decided to close 11 under performing stores of nine states. The stores located at Nashville, Tennessee; Los Angeles, California; West Palm Beach, Florida; St. Louis Missouri; Hawaii; Colorado Springs and Westminster, Colorado; Indianapolis, Indiana; Natrona Heights and West Mifflin stores, Pennsylvania and Brooklyn Center, Minnesota. The 7000 jobs that are going to cut are of executive positions with frozen in the increased salary of executives. The board also decided to decrease the company facilities including executive prerequisite benefits such as store discounts, company cars and paid life insurance.
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