Macy’s announced on Monday that they will furlough most of its 130,000-strong workforce starting this week since all of the company’s stores have been temporarily shut due to the coronavirus pandemic.
The department store chain added that there would be fewer furloughs when it comes to online digital business, which is still operational, supporting distribution centers and call centers. Macy's told staff that it would continue to pay health benefits and cover 100% of premiums at least through May.
According the New York Post Macy's shares were flat on Monday morning, trading at $5.51.
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