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Macy’s gave $9 million in bonuses to execs after thousands of job cuts

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Jeff Gennette, chairman and chief executive officer of Macy’s Inc.

Mark Kauzlarich | Bloomberg via Getty Images

Macy’s doled out $9 million in equity awards to six top executives days after it laid off roughly a quarter of its corporate workforce. 

The ailing department store chain’s CEO, Jeff Gennette, received restricted stock worth $3.7 million on July 9, according to filings with the Securities and Exchange Commission. The five other execs, including legal chief Elisa Garcia and human resources chief Danielle Kirgan, received awards ranging from $350,000 to $3 million, the filings said. 

A representative from Macy’s said in an email that because of the pandemic, the retailer delayed…



Source cnbc.com

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