Federated/May: No job cuts until spring

CINCINNATI — Employees of Federated Department Stores and May Co. received word from their respective chairmen yesterday that there will be no job reductions in the combined company until March 2006.

The letters, which were filed with the Securities and Exchange Commission, explain that the companies have appointed a Transition Team of executives to assess resources and business needs.

“We want everyone at May to be able to take a deep breath and realize that there is time for Federated to learn more about May, and there is time for May associates to learn more about the new company and the potential opportunities it will provide,” said the letter to May employees, which was signed by the chairman/president/CEOs both May and Federated, John Dunham and Terry Lundgren, respectively.

A separate letter to Federated employees, which was signed by Lundgren only, encouraged associates at that company to focus on running the business in the months ahead, “especially as we approach the important back-to-school and holiday seasons.”

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos

CURRENT ISSUE

HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!