Welcome to the Jill on Money Coronovirus Market Update.

We are presented by Marcus by Goldman Sachs.

So these are our daily podcasts and we are trying to stay in touch

with you because these are extraordinary times. Every single day we're

answering your questions and trying to give you a quick recap of the

days news. I was a little dismayed when I saw this and maybe it's just because I'm an old fart and brands mean something to me.

Macy's announced that it is furloughing most of its 125,000 employees.

I just thought that was such a stunning number.

You know, this is Macy's, Bloomingdale's,

Blue Mercury, these stores have all been shut down since March 18th. Eight weeks ago or so,

the company said it was going to close 125 stores and lay off 2,000 workers and we thought that was a big deal.

Well, this is just mind-blowing.

It just so happens, by the way, that Macy's, I think, was pretty smart about this,

that earlier this month they had borrowed 1.5 billion, with a B billion dollars, to help sort of get itself through the pandemic's impact. But know hopefully these folks will get back to work

Macy said that they are these furloughed employees will get their health insurance at

least through May, thank God, and they hope to bring back

most of these folks what they called on a staggered basis as the business improves.

It's just a real, it's a shame

and these people are gonna need some help.

So that's the Macy's news.

That's a total buzzkill there.

What else was the bad news of the day?

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