Macy's Inc. is reducing its huge workforce by about 3% in a restructuring move to cut costs as its business looks to recover from the impact of the COVID-19 pandemic.
Macy's Inc. said it raised a total of $4.5 billion, providing it with sufficient liquidity to fund operations and address business needs as the economy starts to recover from the COVID-19 pandemic.
Kohl’s is joining Macy's Inc. in furloughing a good deal of its workforce and cutting capital expenditures as it extends store closings in the wake of the COVID-19 outbreak.