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“In towns and cities... there is no more important institution than the local paper.”
Warren Buffett
Macy’s, which owns Bloomingdale’s, plans to furlough most of its 130,000 workers as stores remain closed in the wake of the coronavirus outbreak.
Monday, March 30, 2020 11:29 AM EST
Macy’s said on Monday that it has lost “the majority” of its sales because of store closings, which started on March 18 and will persist until the retailer has a “clear line of sight on when it is safe to reopen.”
There will be fewer furloughs in the digital business. Macy’s had 130,000 part-time and full-time employees as of Feb. 2.
