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Macy’s is set to furlough a majority of its employees during the coronavirus crisis: WSJ

Yahoo Finance Video

Retail giant Macy's is set to furlough the majority of its employees this week while its stores remain closed due to the coronavirus. Yahoo Finance's Adam Shaprio shares the details.

Video Transcript

ADAM SHAPIRO: We have breaking news right now. The "Wall Street Journal" is reporting that Macy's is going to furlough most of its employees as their stores stay shut. Shares of Macy's obviously taking a hit during the virus, but right now shares are trading down more than 4%. They're trading at $5.26 a share. This is the kind of news that the administration is trying to prevent as it passes-- the president signing the historic legislation on Friday, the stimulus bill.