- Macy's to Cut 7,000 Jobs
Macy's Inc. said it will cut about 7,000 positions, or 4% of its work force, and slash its dividend, as the retailer looks to lower expenses amid slumping sales.
The largest U.S. department-store chain also announced plans to expand a decentralization strategy that localizes store offerings.
...and so on. But just to show how weird the economy can be, the local Macy's store this past weekend had "we're hiring" placards prominently displayed near the entrances. No help to those 7,000 others, poor devils.