A hiring sign is displayed on the front door of a Macy's store in Palo Alto, Calif. , Monday, Feb. 2, 2009. Macy's Inc. announced Monday that it will cut 7,000 jobs, almost 4 percent of its work force, reduce its contributions to its employees' retirement funds and slash its dividend to preserve cash amid a severe pullback in consumer spending. AP Photo logo AP Photo 12 months ago

A hiring sign is displayed on the front door of a Macy's store in Palo Alto, Calif. , Monday, Feb. 2, 2009. Macy's Inc. announced Monday that it will cut 7,000 jobs, almost 4 percent of its work force, reduce its contributions to its employees' retirement funds and slash its dividend to preserve cash amid a severe pullback in consumer spending.