ABC News business reporter Alexis Christoforous breaks down the job cuts at Macy’s.
WATCH the ABC News Livestream: https://bit.ly/3rzBHum
SUBSCRIBE to ABC News: https://bit.ly/2vZb6yP
WATCH MORE on http://abcnews.go.com/
LIKE ABC News on FACEBOOK: https://www.facebook.com/abcnews
FOLLOW ABC News on TWITTER: https://twitter.com/abc
#macys #layoffs #mortgage
Original source (ABC/Youtube)
People are only shopping for groceries. All equally poor
There are plenty of houses to put on the market so many that it would crash the housing market that are held by the banks.
A story that no big news Media will talk about . All the houses that were closed during and after Covid.
Thousands of people lost their houses because their jobs were shut down, or their businesses were shut down .
Add insult to injury. The government told renters. They did not have to pay rent for two years and a lot of people took advantage of that..
The people who only had one home as an investment for retirement, could no longer pay the mortgage and they lost their houses.
This story is not being talked about .
But the bank will not unload all the houses at one time onto the market because the housing market price would crash .
So right now at this moment it is a lie that there’s not enough houses that could be on the market. It’s all being propped up and caused by the banking system. . Not releasing the housing that they hold onto from foreclosures.
Our economy is good according to the government. Even though everyone is downsizing
People are not buying overpriced fabric anymore, that is all. I would say people are spending more money on food…especially food delivery to be exact.
Surprised macys hasn’t died sooner. They never could compete with Amazon, SHEIN, and now temu. The online website is a mess so they don’t make sales there. Younger customers go to individual stores for their needs, so macys “all in one” perk isn’t appealing anymore. At this point the only people I know who shop there do so as a last resort or for prom dresses. Neither of which can keep a store afloat
Downsizing doesn’t necessarily mean consumers are spending less it just means businesses are just consolidating to increase consumption in the remaining branches they have. Dominos closed in my neighborhood so I started ordering from the next neighborhood and now it’s super busy because everyone in my area are doing the same.
GOOD! Their Snooty females at the perfume counter dont want to hand out samples because they keep them all for themselves.
Y'all let Amazon have these brick and mortar stores closing smh
mortgage rates just went up a tiny bit…huh? Lets not forget prices are up 200-300K
Yes, the same story here in Sarasota. Southgate mall already deserted, just Talbott's and Macy left. Macy is not busy with exception of holiday sales. I wonder how they manage to keep it afloat.
Outgoing Macy Employee farewell 😂😂😂😂😂
Big job cuts less than 4% of work force…
At least they said which states, I didn’t know Hawaii had more than one Macys
2.004 a month for a house, dam 🥴
Bidenomics is working
People need to stop doing so much shopping online and go to brick & mortar places. Some people might actually need jobs.
Bidenomics
This is what happens
Amazon and Temu is to blame
So what. Who wants to work in retail?
Macy's still exists? wow
Joe HITLER:" Its all Trumps fault"! Bidenomics is WORKING!
I love Macy's but one issue they've always had is how crappy the site is. Now that I live in the south the closest Macy's is hours away
I like Macys!!
Robots
Yea
It’s expected. People have a lot more options now.
these reporters have ADHD……..
Well, I don't sorry for Macy's because they never did hired me. Don't get me wrong, I feel bad for the employees, but the store? Well, you win some you lose some
Oh no
Interesting how she completely leaves out the over inflated home prices. Rates need to come down home prices need to come down… don’t bid up already over inflated home prices you’re just shooting your self in the foot down the road.
It's bad it will only get worse were in a recession and manufacturing is plunging. Good thing is given abc is posting false info online we can provide true info in the comments.
It's A shame
I like Macy's
BIDENOMICS BABY!
Dame 😢
Yeah right unemployment is still high. The reason why is up because they averaging jobs that young teen have not regular jobs.
US ECONOMY CAN FACE VERY HARD TIME IN 2024.
The hoi poilloi no longer shop with the
hoity toity