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Macy's Announces Atlanta Headquarters Closure - 850 Jobs Lost!

Breaking news this evening that will affect many in Metro Atlanta. Macy's department stores announced the closure of the Atlanta Headquarters and the elimination of 850 Jobs. With the corporate announced restructuring of its central operation will phase out these jobs by the second quarter, and a total of 7000 employees ( 4% of its 180,000 employees) will be let go nationally, and 11 stores will be closed. This comes at a time when Atlanta can not afford any more layoffs.,,this coming on news that Home Depot will also be eliminating 482 positions. Moody's investment service tonight reported that they have placed Macy's on a Junk Debt watch.

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Posted by Jim Crawford ~ Atlanta Real Estate-ABR E-PRO on 02/02/2009 06:17 PM

Comments (11)

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11 Comments on Macy's Announces Atlanta Headquarters Closure - 850 Jobs Lost!

FEB

Jim, I continue to stay positive even though the bad news never seems to end. But end it will, just when. I had not heard of the Macy's closing. I am sorry for the people there facing this.

This is a new bad-news story. I hate hearing about all these job losses and have great optimism that our new administration will turn things around.

Jim, move to Washington. Come to Evers. The water is fine! Well, wait. You can't drink it! But you know what I mean.

Connie Harvey Realtor Nashville Tennessee Homes (Prudential Woodmont Realty) I am trying to stay positive. I even finished last year in the plus. This evening they had the Georgia State economist (Rajeev Dhawan) was on TV and he was being questioned about the state and Atlanta job losses. He said basically they had predicted that Georgia would lose over 80,000 jobs this year however...In December Georgia and "Atlanta fell off a cliff!" All job loss data for GA will totally have to be revived! That is not too optimistic. Jobless rate 7.6% in Atlanta

Barbara S. Duncan ABR, CRS, GRI, e-PRO Searcy AR (RE/MAX Advantage) I hope so to. I hope Congress makes some real changes.

Patricia Kennedy (Evers & Company) I may take you up on that sometime. This market has my head spinning and hurting! Ouch!

FEB

I am sorry to read about Macy's .Hope the people will find other jobs soon.

GITA BANTWAL, REALTOR BUCKS COUNTY, PA HOMES (ReMax Centre Realtors) We all are sorry to hear this. The economist on last nights news siad it would be no easy task finding jobs for them because so many other jobs have been lost recently also.

Atlanta is really feeling this recession. They grew so much so fast I guess something had to give.

Jim,

It seems the slowdown takes no prisoners. Retail sales are down. people don't have the confidence or the money. Many are afraid of losing their jobs. What is next?

I just hope all this money being pumped into the economy will help. It is just taking so long to get in.

Richard

FEB

This is most likely happening because I stopped shopping!!!!! J/K It's scary when our once constant businesses are closing!

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