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Macy's cutting 7,000 jobs and slashing dividend

NEW YORK (AP) - As it manages against the severe downturn in
consumer spending, Macy's has announced plans to trim 7,000 jobs or
nearly 4 percent of its work force.

Macy's announced Monday it will close it regional headquarters
in Atlanta, eliminating cutbacks include 850 jobs.

The department store parent is also reducing contributions to
its retirement funds and cutting the dividend.

The cuts will include some unfilled jobs as well as 1,900
positions being eliminated in restructuring. They will come in
corporate offices, stores and other locations.

Last month, Macy's announced that it would close 11 stores
affecting nearly 1,000 workers.


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