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Macy’s Executives Get $9 Million in Bonuses After 3,900 Jobs Cut

  • CEO Jeff Gennette received a stock award worth $3.7 million
  • The company has cut thousands of jobs as shares have plunged
Jeff Gennette
Jeff Gennette

The board of Macy’s Inc. handed $9 million in equity awards to six top executives just two weeks after the department store chain said it would cut thousands of jobs in its corporate office.

Chief Executive Officer Jeff Gennette received restricted stock worth $3.7 million on July 9, according to a regulatory filing. The other five, including legal chief Elisa Garcia and Danielle Kirgan, who oversees human resources, received awards ranging from $350,000 to $3 million.