Macy's Cutting 600 Local Jobs

The economic downturn is seriously getting apocalyptic, with reports of shuttering, job slashing, and stock drops de rigeur. Today, department store giant Macy's announced it will cut 7,000 jobs companywide. The bad news locally is that 600 of those jobs will be from the Miami regional headquarters. Earlier reports stated Macy's might close its Miami office entirely, but that appears to not be the case.

There's a bit of good news, though. The company is expanding its "My Macy's" regional buying program and will base the program in eight regional districts, one of which is Miami. The "My Macy's" expansion is expected to create 1,200 new jobs, and laid-off workers will be able to find new positions in the company. It's unlikely, though, that many of those jobs will be in Miami.