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What percentage of Macy’s furloughed employees will return to work by August 1?
Cross-posted on Metaculus: Pandemics.
Context
Macy’s was struggling before the coronavirus pandemic: in early February, the company announced 2000 layoffs and the permanent closure of 125 stores. In mid-March, in response to the outbreak, it temporarily closed all Macy’s, Bloomingdale’s and Bluemercury store locations. At the end of March, the company announced it would furlough most of its 125,000 employees.
Then at the end of April Macy’s released a presentation detailing its reopening plans, reported on by the New York Times:
The company aims to reopen all of its 775 stores, including Bloomingdale’s, Bluemercury and its major flagships in Manhattan, in the next six to eight weeks. … The reopenings are expected to start on Monday, with 68 stores in Georgia, Oklahoma, South Carolina, Tennessee and Texas. Macy’s will reopen 50 more locations on May 11.
450 stores reopened on June 9th, prompting a jump in share price as customers returned faster than anticipated.
Question
What percentage of Macy’s furloughed employees will return to work by August 1?
Resolution
This question will resolve according to the information about its workforce that Macy's shares in its quarterly earnings call, as reported by credible media sources.
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