The Trump Effect? Macy’s to Shed 10,000 Jobs and Close Stores

Posted in BioBusiness, BioJobBuzz

Over the past few weeks, President-elect Donald Trump has taken much credit for saving several hundred US manufacturing jobs in Indiana. Also, he has excoriated car marker executives ranging from General Motors to Ford to Toyota for planning to build manufacturing facilities in Mexico. While it is not clear how many jobs Trump actually saved or whether his twitter rants prevented car manufacturers from setting up production plants in Mexico, it is clear that he cannot or will not save large numbers of American jobs in the retail/service sectors. To that point, Macy’s, last week, announced that it was shedding 10,000 jobs and closing 100 stores to cut costs to improve its bottom line.

You may ask why saving a few hundred air conditioning jobs at taxpayer expense more important than saving 10,000 American retail jobs? As you may recall, in the summer of 2015 Macy’s CEO Terry Lundgren  said that he would stop selling Donald Trump’s clothing line in all of its stores.  Lundgren decided to take this action because then candidate Trump said many Mexican immigrants were rapists or murderers. Shortly after Lundgren announced his decision, Trump called on his supporters to boycott Macy stores.

While it is unlikely that the Trump boycott was responsible for Macy’s decline (all department stores are are getting hammered by online retailers), I do not expect Trump to help Macy’s (like he helped Carrier) save any of the 10,000 jobs that will be lost.  This is because Trump is a vindictive and hateful man who will not help anyone unless they shower him with adulation or do as they are told. Further, he likely considers Terry Lundgren a “loser’ because his business is failing. And, if Donald was in charge,  Macy’s would be a HUGE and GREAT success. Put simply, Macy’s got what it deserves for dropping Trump’s clothing line and not reinstating it after Trump was elected President. And, as for Lundgren, he said

“We made our decision about a year and a half ago, and stand by our decision,”

It’s going to be a rocky ride for the next 4 years.  So buckle in and hold on for your life!

Until next time…..

Good Luck and Good Job Hunting!!!!!!!!!!