Macy’s workforce increased 17% in fiscal 2021, but was still more than 25% below pre-pandemic levels
Macy’s Inc.
M,
disclosed that it had 88,857 employees as of Jan. 29, 2022, up 17.4% from 75,711 a year ago, which was impacted by COVID-19-related store closures. Despite the increase, the current workforce is still 27.8% below the 123,000 employees the department store chain had as of pre-pandemic Feb. 1, 2020. The company said in its fiscal 2021 annual report filed Friday that although it has experienced a “strong recovery” in results last year as COVID-19 impacts waned, it expect that COVID-19 “could continue to have adverse impacts on the company’s business,” as well as its financial condition. The stock, which slipped 1.3% in premarket trading Friday, had soared 132.7% in 2021, while the S&P 500
SPX,
rallied 26.9%.
