Skip to comments.Macy's Has Hired A Huge Cohort Of New College Grads To Fill Its Executive Ranks (Retail picking up!)
Posted on 06/11/2012 8:22:56 AM PDT by SeekAndFind
Macy's has hired 730 new college grads for full-time gigs in its Executive Development Program and 326 current students for summer internships. That's 1,056 total hires.
This is a big new cohort for Macy's, and a 30 percent increase from last year's hiring numbers.
It's good sign as Macy's continues to try to wrestle market share away from JCPenney. If JCPenney succeeds in its turnaround, Macy's is going to need as much top talent as it can get to fend it off in the long-term.
The new hires will be working in stores, merchandising, brand development, online, IT, logistics, credit and corporate services.
(Excerpt) Read more at businessinsider.com ...
Ok, so they’ve been hired. How many will still have their jobs in six months?
The government supports consumerism. Retail stocks have been doing great.
So Mavy’s AND JC Penney’s are hiring a BUNCH of College “Educated” Faggots huh!?
“If JCPenney succeeds in its turnaround...”
Not very likely given their lunatic focus on the << 2% of the population that is Queer.
Yay, Macy’s is dumping the old farts who earn high salaries for lower paid fresh grads.
And why would they not? they can save more with this move than they stand to lose in age discrimination law suites.
RE: So Mavys AND JC Penneys are hiring a BUNCH of College Educated Faggots huh!?
C’mon, give these kids a break, they’ve been unemployed for so long that any bit of good news should be cause for celebration.
I mean, an honest job in a great retail company is better than :
1) Not being able to pay for your tuition debt.
2) Joining the Occupy movement.
3) going back to live with Mom and Dad.
Of course, if these kids attribute their new found job to Obama’s “enlightened” policies, I am going to puke :)
‘Enlightenment’ is what’s gotten us into trouble.
I don’t get why retail stocks are doing so well.
No one, especially Macy’s, sells at list price. Macy’s, for example, has about 3-4 ways on any given day, in any given department, where you can save from 10%-50% off quality products.
If you check the offerings of liquidators, you will see pallets upon pallets of goods from all the top brick and mortar retailers down to Dollar Store level. Name the retail sector and there are warehouses full of new merchandise, shelf-pulls, returns, seasonal, you name it.
Speaking of liquidation, Macy’s is now going to be selling at up to 70% off direct to the consumer via the web, bypassing the liquidators.
Reminds me of someone who ran a small boutique, back in the 70’s. When customers would ask them where they got their merchandise, they replied:”We steal it.” It was just a snarky comment, but sometimes one wonders.........
“Yay, Macys is dumping the old farts who earn high salaries for lower paid fresh grads.
And why would they not? they can save more with this move than they stand to lose in age discrimination law suites.”
Good way to lose your institutional knowledge base too...but hey, by the time that becomes apparent, the people who made this decision will probably be loooong gone!
I would say this is in response to many Baby Boomers retiring in the next 5 years, not any increase in sales. Many companies are in the same position.
“Retail picking up”. Where in this article does it say that?
It is common practice to retire higher payed senior management with college grads at a fraction of the salary.
In Dallas-Fort Worth, the average life of a small company controller/CFO is 18-24 months. That's about the time it takes for an experienced CPA to clean up the books and update the accounting system.
Once the job is done, management decides they "want to move in a different direction", i.e. bring in a younger, cheaper CPA that won't tell them "no, you can't do that".
How many of them will quit by Labor Day, after they've learned they have no more week-ends and no more holidays?
When I saw the headline, I thought "JCP is going under, and Macy's is looking to 1) Grab as much of their market share as possible and 2) Drive a stake in their heart.
Huh. Never heard "cohort" being used this way before.
The retail economy is not picking up. It’still shrinking. Macy’s probably doing the same thing that JC Penney has done. They’ve fired or forced retirement on most of their senior managers and supervisory employees. I know a very experienced, professional store manager with over 20 years with the chain who was told that she didn’t fit the new image that Penney’s was developing and she would be better served by retiring rather than taking her chances with the new regime. From dept heads and store managers all the way up the chain and they’ve brought in brand new and inexperienced kids straight from college and put them into management positions with nearly no training or experience. The results can easliy be seen at the store level by even the most casual shopper.