Macy's Severance Package: 2026 Guide
2 weeks per year for corporate; store closing packages vary. Calculate your estimated Macy's severance below.
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What Macy's Typically Offers
Known Severance Benefits
- ✓2 weeks per year of service (corporate)
- ✓Store closing packages for affected locations
- ✓WARN Act notice compliance
- ✓Health coverage transition support
- ✓Employee discount extension
Macy's Recent Layoff History
| Date | Employees | Details |
|---|---|---|
| February 2024 | 2,350 | Store closures and corporate restructuring — closing 150 stores by 2026 |
Sources: Reuters, CNBC, New York Times
Macy's Severance Tax (New York)
Macy's is headquartered in New York. Here's how severance is taxed there:
Example: A Macy's employee with 5 years of service earning $60,000 would receive approximately $5,769 gross ( $3,871 after tax in New York).
How Macy's Compares to Retail Average
Other Retail Companies
| Company | Formula | Rating |
|---|---|---|
| Walmart | Corporate: 2 weeks/year; Store: minimal or none | Below Average |
| Target Corporation | Corporate: varies by level; HQ roles get better packages | Standard |
| Costco | Above-industry-average; Costco is known for employee treatment | Generous |
| The Home Depot | Corporate: 2 weeks per year; store-level varies | Standard |
Negotiating Your Macy's Severance
Strategies specific to Macy's employees:
- ✓Macy's store closures trigger WARN Act — ensure you get the full 60-day notice or pay
- ✓Push for extended employee discount especially during job search (for interview outfits)
- ✓Negotiate for outplacement services focused on retail management roles
- ✓Ask for PTO payout if your state doesn't mandate it
Think Your Severance Is Too Low?
Employment lawyers have helped workers negotiate 2-5x their original offers. Get a free consultation.
Macy's Severance FAQ
How much severance does Macy's pay?▼
Macy's typically offers 2 weeks per year for corporate; store closing packages vary. Their severance reputation is rated as “Standard” compared to retail industry peers. In recent layoffs (February 2024), store closures and corporate restructuring — closing 150 stores by 2026.
Can I negotiate my Macy's severance?▼
Yes, most severance packages at Macy's are negotiable. An employment lawyer experienced in retail can typically negotiate 2-5x the initial offer, especially if there are potential legal claims or WARN Act violations. Many offer free initial consultations.
How is Macy's severance taxed?▼
Macy's severance is taxed as supplemental wages at 22% federal flat rate plus 10.9% New York state tax, for a total of approximately 32.9%. If you work remotely, your state of residence tax rate applies instead.
Related Retail Companies
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The exact steps employment lawyers use to negotiate higher severance. Used by 10,000+ employees.