When Macy’s dropped President-Elect Donald Trump’s clothing line, did anyone think this would happen?
In 2015, the massive retailer denounced Trump after he announced his presidency for the US.
Then, Macy’s doubled-down on their hatred for Trump.
CNN reported back in November:
Macy’s dropped its Trump clothing line last year after he called Mexican immigrants rapists and criminals on the first day of his campaign. CEO Terry Lundgren said Thursday that Macy’s has no plans to restore it now that the election is over.
“We’ve made that decision,” Lundgren told CNBC. “We wouldn’t have a Hillary Clinton suit line either. You wouldn’t carry a political candidate. We’re not a political company.”
When an anchor pointed out that Trump is no longer a candidate and that his children will manage the clothing company, Lundgren said: “You wouldn’t want to have a product that was held by a prominent Republican or a prominent Democrat because 48% of the population doesn’t think that’s a good idea.”
Now, just two months later, Macy’s has announced a massive layoff.
And they’re closing stores!
Cincinnati-based retail giant Macy’s Inc. announced Wednesday that it’s closing 68 of its 870 stores and streamlining its management, impacting more than 10,000 of its employees nationwide. No Cincinnati-area Macy’s locations were among those slated to close.
Macy’s (NYSE: M) said the closings are part of the approximately 100 stores it will shut down by the end of 2017. The company said it will eliminate 3,900 jobs of the 5,327 people employed at the impacted stores. Macy’s said it will offer affected employees positions in nearby stores where possible. Eligible employees will be offered severance pay.
This is more Americans out of work, which is very sad.
Macy’s shouldn’t have messed with Trump!