from The Wall Street Journal
Feb. 2, 2009
Macy's said it will cut 7,000 jobs, or 4% of its work force, amid a sweeping reorganization of its nationwide structure. Macy's also said it sees same-store sales, or sales at stores open more than a year, being down between 6% and 8% in 2009. The company also will cut its quarterly dividend.
Again, I feel horrible for the people that are out of jobs. But I'm enjoying yet another sad news story about Macy's.