Macy's on Monday said that the measures announced last week to shore up its finances have helped but are "not enough," so it's placing most of its workforce on furlough beginning this week. That includes employees in its digital business, distribution centers and call centers, though there will be fewer furloughs in those areas. As of the fourth quarter, Macy's reported 125,000 employees.
At least through May, furloughed employees with health benefits will continue to receive coverage, with Macy's covering the entire premium. "We expect to bring colleagues back on a staggered basis as business resumes," per a company press release.. . . more