News flash: Heads roll at Macy's, but there's a silver lining
The bad news: Macy's, the American department store chain, has announced it will lay off 7,000 employees. So what's the good news? The move is part of a new strategy to streamline the company's operations -- ending merit pay raises for executives, cutting this year's operating budget by 25 percent, and expanding a program to custom-tailor stores to their locales that will result in the creation of 1,200 new jobs.
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