BREAKING: KARMA – Macys Snubbed Trump And Now A Year Later Is Forced To Lay Off 10,000 Employees Due To Fall In Business
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Well, things didn’t turn out too well for Macy’s when the corporation decided to go after President-elect Donald Trump. In this saga, it looks like Macy’s was the clear loser.
According to a story at Conservative Tribune
On Wednesday, Macy’s announced disappointing holiday sales that prompted its stock to drop more than 9 percent. The company has since declared that it will be closing a total of 100 stores, and released the locations to CNBC of 68 of the 100 locations to be closed. This will reportedly be accompanied by a loss of 10,000 jobs.
“As part of Wednesday’s announcement Macy’s said it will eliminate layers of management to cut costs and make more agile decisions. It also will work to reduce other non-payroll costs. As a result of these steps, the company estimates its workforce will be cut by 6,200. Another 3,900 workers will be displaced by the store closures and some of these employees could be reassigned,” WND reported.
There may be a connection to Macy’s massive failure and the call by Donald Trump for a boycott of the retailer during his campaign for President. Macy’s was vocal in its decision to cut ties with Trump and end its distribution of his clothing line because of “disparaging” remarks about Mexicans.