Macy’s Will Cut 10,000 Jobs After Poor Holiday Sales.
Shares in Macy’s fell nearly 10 percent to $32.30 in after-hours trading on Wednesday.
“Macy’s was very disloyal to me because of my strong stance on illegal immigration.Their stock has crashed!!!”#BoycottMacys -Trump tweeted .
President-elect Donald Trump has taken credit for companies that have announced new jobs or kept jobs slated to be outsourced, in the weeks since he won the election.
But he hasn’t yet taken credit for Macy’s Wednesday announcement that it’s closing 68 stores and laying off 10000 employees — even though Trump called on consumers to “boycott” the company “forever.”
Trump’s feud with Macy’s began in 2015, when the company pulled his line of clothing from their stores after his racist comments about Mexicans during the presidential campaign.
Trump sought to launch the hashtag #BoycottMacys, and said their stores “suck” and are “bad for the USA.”
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