Responding to a lackluster 2018 fourth quarter that produced sluggish same-store sales, Cincinnati, Ohio-based Macy’s, the iconic department store retailer, announced a restructuring effort during their fourth quarter financial results presentation.
According to Jeff Gennette, Macy's, Inc. chairman & chief executive officer, “Macy’s is heading into 2019 a stronger business than we were a year ago - with healthier stores, a growing e-commerce business and a mobile experience that is resonating with our customers. We are executing a balanced investment strategy that supports all three of these components, with investment directed towards areas we know have the highest returns. We are also a more agile and flexible organization. The steps we are announcing to further streamline our management structure will allow us to move faster, reduce costs and be more responsive to changing customer expectations. Importantly, these changes build the foundation we need to achieve meaningful enterprise productivity improvements. These actions impact colleagues who have made strong contributions to the company over the years, and I thank them for their service.”
In addition to an estimated reduction in force of 100 senior management positions, it should come as no surprise that the the company has announced an additional reduction in force in their Systems and Technology Field Services and Operational Unit headquartered in Bay Shore, New York.
According to a WARN (Worker Adjustment and Retraining Notification) approximately 57 IT-related jobs will be eliminated and the work transitioned to NCR, which is functioning as a business process outsource vendor.
According to a company spokesperson, “We’re always looking at the best way to provide technology support to our company. Macy’s has made changes to outsource many field services organization functions. We are working closely with our external vendor to encourage impacted Macy’s colleagues to apply for the many new roles being created at as a result of this transition.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?