Macy’s to slash 2,350 jobs and ax FIVE stores as it becomes latest victim of America’s ‘retail apocalypse’

2 comments

1. I thought Macy’s was being bought out by private equity?

2. We [gutted the middle class](https://www.businessinsider.com/automation-labor-market-wage-inequality-middle-class-jobs-study-2021-6). How is a business that caters to them supposed to survive.

   I saw the same thing with Mervyns, which was like an upscale Walmart. The declining middle class left them vulnerable and vulture capitalists noticed they owned a bunch of property so they did a “leveraged” buyout where they bought the company with debt from their own assets.

   Wish I could do that. Imagine walking into a Ferrari dealership and saying “Give me 3 Ferraris, I’ll pay for them with a loan from 2 of them!”. Don’t worry, next time the economy collapses the right wing gov’t of my country’ll bail me out.