Macy’s to Bring On Over 31,500 Employees for the Holiday Rush

Macy’s (NYSE: M) $16.24 has announced plans to hire more than 31,500 full-time and part-time workers for the holiday season, which is fewer than the 38,000 employees recruited last year. As the U.S. department store prepares for a busy shopping period, it’s adjusting its hiring expectations due to a softer labor market and tighter consumer spending.

According to a report by Challenger, Gray & Christmas, U.S. retailers are scaling back holiday season hiring compared to 2023. In contrast, UPS plans to increase its seasonal workforce, hiring 125,000 workers—up from the 100,000 employed last year—to meet the demands of the busy shipping season.

Deloitte forecasts the slowest holiday sales growth in six years as inflation and dwindling savings lead shoppers to be more cautious. Holiday sales typically account for more than half of U.S. retailers’ annual revenue, making this season critical for companies like Macy’s.