Macy's will start furloughing most employees this week as it copes with significant sales losses

Scott Olson | Getty ImagesMacy's said the majority of its employees will be furloughed beginning this week as it copes with significant sales losses during the coronavirus pandemic ... It said it's lost most of its sales, even as it remains open online, and that's why cost cuts are necessary ... It said furloughed employees enrolled in health benefits will continue to receive coverage, with the company paying 100% of the premium.