Federated/May to Evaluate Reductions

May 2005
Home Textiles Today;5/30/2005, Vol. 26 Issue 37, p19
Trade Publication
The article informs that employees of Federated Department Stores Inc. and May Co. received word from their respective chairmen last week announcing there will be no job reductions in the combined company until March 2006. The letters, which were filed with the Securities and Exchange Commission, explain that the companies have appointed a transition team of executives to assess resources and business needs. A separate letter to Federated employees, which was signed by president/chief executive officer of both May and Federated, Terry Lundgren, encouraged associates to focus on running the business in the months ahead.


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