The Trend Continues: Macy’s, Sears, and Kmart Announce over 200 Store Closings and 10,000+ Layoffs Nationwide
Holiday sales for many traditional stores were pretty abysmal this year… Amazon far and away captured the majority of online sales.
Stores like Macy’s, on the other hand, actually saw a sales decrease during one of the most crucial shopping times of the year.
Now The New York Times reports the store chain will be closing 100 stores and cutting over 10,000 jobs.
The company, which now has 730 stores, announced in August that it would close 100 of them. On Wednesday, it identified 68 stores to be closed.
…
Some employees may be offered positions at nearby stores, but Macy’s estimated that 3,900 workers would be affected by the closings. It also said it planned to restructure parts of its business, leading to a reduction of an additional 6,200 jobs. Over all, the job cuts represent about 7 percent of its work force.
Meanwhile, Sears Holdings Co. also announced this week it will close 78 Kmart Stores and another 26 Sears locations this spring.
The company’s statement read in part:
“Many of these stores have struggled with their financial performance for years and we have kept them open to maintain local jobs and in the hopes that they would turn around. But in order to meet our objective of returning to profitability, we have to make tough decisions and will continue to do so, which will give our better performing stores a chance at success.”
They admitted it: the stores were kept open mainly just to maintain local jobs.
That’s probably true of many major employers the nation over. As automation continues, jobs will continue to be lost. It’s a well-known fact that the majority of low-paying jobs that employ the most adult workers in this country such as cashiers and waiters/waitresses will inevitably be replaced.
The only question is what does the system plan to do with tens of millions of unemployed workers?
Delivered by The Daily Sheeple
We encourage you to share and republish our reports, analyses, breaking news and videos (Click for details).
Contributed by Melissa Dykes of The Daily Sheeple.
Melissa Dykes is a writer, researcher, and analyst for The Daily Sheeple and a co-creator of Truthstream Media with Aaron Dykes, a site that offers teleprompter-free, unscripted analysis of The Matrix we find ourselves living in. Melissa and Aaron also recently launched Revolution of the Method and Informed Dissent. Wake the flock up!
Source: http://www.thedailysheeple.com/the-trend-continues-macys-sears-and-kmart-announce-over-200-store-closings-and-10000-layoffs-nationwide_012017
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
