Healthcare Provider Update: Healthcare Provider Information for Macy's: Macy's, as a large retailer, typically provides employee health insurance through various national carriers. Among the prominent providers, UnitedHealthcare has been the primary healthcare partner for Macy's, offering a range of health plans that include medical, dental, and vision coverage for employees. Healthcare Cost Increases in 2026: As Macy's faces healthcare cost pressures in 2026, significant increases in insurance premiums are anticipated due to the expiration of enhanced federal subsidies under the Affordable Care Act (ACA). Some states could see hikes exceeding 60%, with as many as 22 million marketplace enrollees potentially experiencing more than a 75% rise in out-of-pocket costs. Contributing factors include rising medical costs driven by inflation, labor shortages, and high pharmaceutical prices, further straining budgets for employers like Macy's. This perfect storm of escalating costs and diminished subsidies places additional financial pressure on both the company and its employees, necessitating strategic planning moving forward. Click here to learn more
'Macy's employees should view rehiring opportunities not just as a return to familiar ground, but as a strategic career move to leverage experience and negotiate improved terms, especially in today's fluid labor market,' — Paul Bergeron, a representative of The Retirement Group, a division of Wealth Enhancement Group.
'Macy's employees navigating rehiring offers should carefully assess their financial goals and career growth opportunities before returning, turning workforce shifts into a strategic advantage,' — Tyson Mavar, a representative of The Retirement Group, a division of Wealth Enhancement Group.
In this article, we will discuss:
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Evaluating whether to return to a former employer after a layoff.
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How companies like Macy's are using technology to streamline rehiring.
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The strategic advantages for both employees and employers in the rehire process.
Many Macy's employees, along with others in the energy sector, have experienced the flux of being laid off and then rehired, reflecting the unpredictable waves of the labor market. Notably, even industry giants like Macy's have been part of this trend, recalling employees to navigate through the changing economic landscapes and operational needs.
The decision to return isn't merely about accepting a job offer; it involves a thorough assessment of one’s financial status and other available job prospects. Career adviser Debra Wheatman recommends that individuals evaluate their current financial health and job market opportunities to make a well-informed decision.
Gaining a bit of leverage is often a part of this process. As Wheatman points out, returning employees might have the opportunity to negotiate better terms than before, potentially leading to improved roles, higher compensation, or more stable job conditions at Macy's.
However, individual stories reveal diverse experiences. For example, after a brief layoff from a marketing agency, Jessica Swenson chose to return as a contractor, finding that the flexibility better suited her career aspirations, emphasizing the growing importance of adaptability in professional settings.
Conversely, Kristie Jones, who dealt with an impersonal layoff process, opted not to return to her previous employer, moving instead into consultancy. This shift underscores a common path for many who seek independence after corporate disenchantments.
Macy's is leveraging advanced technologies like artificial intelligence through platforms like Visier, which meticulously track employment records to streamline the rehiring process. This methodical approach aids in aligning qualified candidates with suitable positions efficiently, utilizing detailed data analysis [source needed].
Moreover, the corporate recognition of rehiring's advantages, such as reduced onboarding time and familiarity with company culture, is increasing. Reemployed individuals often adapt more quickly and cost-effectively, providing a quicker return on investment for the company.
The manner in which layoffs are executed is crucial, as it affects the likelihood of rehiring. Fostering a respectful layoff process helps preserve professional relationships and keeps a pool of potential candidates ready for when market conditions favor reemployment.
Matt Massucci, CEO of Hirewell, notes that the reasons behind a separation—be it performance issues, strategic shifts, or economic factors—greatly influence rehire possibilities. Both Macy's and its workforce must navigate these complexities with a clear understanding of each other's perspectives.
Ultimately, the decision to return to Macy's should come after thoughtful consideration of the pros and cons, influenced by the initial separation's circumstances. As the labor market evolves, such decisions are increasingly viewed as strategic career moves rather than mere opportunities.
The concept of 'unretirement' is becoming prevalent, especially among older workers nearing retirement age. A significant portion of retirees reenters the workforce, driven by the need for engagement or financial necessities. Companies, including Macy's, appreciate the unique perspectives and reliability that seasoned professionals bring during turbulent economic periods.
Explore how to handle rehire proposals and draw on your experience when considering a return to Macy's after a layoff. Learn from others who have navigated this path successfully and understand how your familiarity with the company can reduce onboarding challenges and facilitate a smoother reintegration.
Reflecting on the labor market's fluid nature, consider the analogy of ocean tides. Just as tides ebb and flow, Macy's might reduce its workforce during downturns but also reengage skilled professionals when conditions improve. For those seasoned in navigating these shifts, it presents an opportunity to reassess and potentially return to a familiar environment, equipped with experience and strategic foresight.
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- Corporate Employees: 8 Factors When Choosing a Mutual Fund
- Use of Escrow Accounts: Divorce
- Medicare Open Enrollment for Corporate Employees: Cost Changes in 2024!
- Stages of Retirement for Corporate Employees
- 7 Things to Consider Before Leaving Your Company
- How Are Workers Impacted by Inflation & Rising Interest Rates?
- Lump-Sum vs Annuity and Rising Interest Rates
- Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans)
- Corporate Employees: Do NOT Believe These 6 Retirement Myths!
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Source:
1. Weber, Lauren. 'The Company That Laid You Off Wants You Back. What Do You Say?' The Wall Street Journal , 24 Apr. 2025, www.wsj.com/articles/company-layoffs-rehiring-employees-2025 .
2. Cadmus, Jay. 'I Was Laid Off at 55 and Took 6 Months to Find a Job.' Business Insider , June 2024, www.businessinsider.com/laid-off-older-workers-rehire-job-hunt-2024-6 .
3. Schooley, Skye. 'Best Layoff Practices: Can You Lay Off and Hire at the Same Time?' Business News Daily , 23 Oct. 2023, www.businessnewsdaily.com/15785-layoff-rehire-best-practices.html .
4. Cook, Ian. 'Hiring After Layoffs: What Employers Need To Know.' Visier , 19 Sept. 2023, www.visier.com/blog/hiring-after-layoffs/ .
5. Fischman, Wendy. 'Rehiring Furloughed and Laid-Off Workers Post-Pandemic.' Potomac Law Group , 13 May 2020, www.potomaclaw.com/news-rehiring-furloughed-laid-off-workers .
What is the Macy's 401(k) plan?
The Macy's 401(k) plan is a retirement savings plan that allows eligible employees to save for their future by contributing a portion of their paycheck on a pre-tax or after-tax basis.
How does Macy's match contributions to the 401(k) plan?
Macy's offers a matching contribution to the 401(k) plan, which means that for every dollar you contribute, Macy's will match a certain percentage, up to a specified limit.
Who is eligible to participate in Macy's 401(k) plan?
Generally, all full-time and part-time employees of Macy's who meet specific age and service requirements are eligible to participate in the 401(k) plan.
Can I change my contribution amount to the Macy's 401(k) plan?
Yes, employees can change their contribution amounts to the Macy's 401(k) plan at any time, subject to plan rules.
What investment options are available in the Macy's 401(k) plan?
The Macy's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles to help employees diversify their retirement savings.
How do I enroll in the Macy's 401(k) plan?
Employees can enroll in the Macy's 401(k) plan through the company's benefits portal or by contacting the HR department for assistance.
Is there a vesting schedule for Macy's matching contributions?
Yes, Macy's has a vesting schedule for matching contributions, which means that employees must work for a certain period before they fully own the matched funds.
Can I take a loan from my Macy's 401(k) plan?
Yes, employees may have the option to take a loan from their Macy's 401(k) plan, subject to specific terms and conditions outlined in the plan.
What happens to my Macy's 401(k) if I leave the company?
If you leave Macy's, you can choose to roll over your 401(k) balance into another retirement account, cash it out (subject to taxes and penalties), or leave it in the Macy's plan if allowed.
How can I check my Macy's 401(k) balance?
Employees can check their Macy's 401(k) balance by logging into the benefits portal or by contacting the plan administrator.