Macy's (M) to eliminate 7,000 positions (4% of work force). Cuts dividend to $0.05 from $0.1325....

|About: Macy's Inc. (M)|By:, SA News Editor

Macy's (M) to eliminate 7,000 positions (4% of work force). Cuts dividend to $0.05 from $0.1325. Sees same-store sales down 6-8% in 2009, and EPS of $0.40-0.55 vs. consensus of $1.17. Shares -12%. (PR)