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?
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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!
“The only question is what does the system plan to do with tens of millions of unemployed workers?”
Soylent Green
Remember Tuesday is Soylent Green day.
The scoops are coming !
This is what the people want. Go out of your way to shop locally and you’ll have local jobs.
This could signal the end of fascism and see the rise of Mom and Pop shops through out the U.S.
Bang a Gong and sound the trumpets.
Trump …”will fix it and fix it fast.” Wings over Rockies circa summer 2016,
Won’t happen as long as everyone buys online. All of these retail store closures are the result of (1) NO Middle Class; and (2) online buying (from you know who). Even the emergence of Wal Mart didn’t end the life of Sears and Macy and their ilk because of the importance of mall life in the American lifestyle (77%++ of Americans surveyed said they got their primary exercise walking around in malls). When Americans started buying online, they were ensuring that 70-80% of products sold were made by slaves, and even more Americans lost jobs. Take a look at how this happened.
Wal Mart took out mom and pop shops in smaller towns because they were at a slightly larger town and people started doing all their shopping there to the detriment of main street. Sears and Macy’s were never their competition.
It is time to introduce a guaranteed wage!
Definitely, US retailing is facing massive change. But there is so much disinformation around that charting any course is guesswork.
For example, anti-Trump forces are claiming that Trump is engineering a US-China trade war. The problem is, this is wrong. China wants to reduce selling to the US, because it is boosting its own inflation and souring its reputation as a possible provider of quality goods. It does not need to pay high prices for imports, either. In Australia, Chinese-owned companies are already selling agricultural and mining products at a lower price to China than Australian consumers are charged. China has already started the trade war, but in a different form than US pundits have predicted. Soon, US companies will have to compete with Chinese companies for a share of the Chinese import market, and it is only Chinese fears of boosting its own inflation that will stop it competing in export markets,