May Stores Lays Off About 1,500 Workers
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From Associated Press
May Department Stores Co. said it laid off about 1,500 workers in sales management and support positions, or 1.3% of its overall workforce.
The St. Louis-based company said last month that first-quarter profit rose $2 million, but sales declined 7.2%
May runs 447 department stores, including Lord & Taylor and Filene’s. A few positions are expected to be trimmed at many of the stores, but the cuts will not affect the number of sales associates.
May shares rose 12 cents to $22.60 on the NYSE.
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