February 4th, 2009 by Reed Allmand 
According to an article in the Star-Telegram, Macy’s Inc. will implement 7,000 job losses, about 4 percent of its 180,000 employee workforce. As the economy continues to contract and consumers experience or fear job losses, many are pulling back their spending and forgoing shopping at retailers such as Macy’s. The consequence is more job losses at retailers and the businesses that rely on the health of the retail industry. The contraction in the retail industry has created a domino effect creating more job losses, rising vacancy rates in shopping centers and the decline of the commercial real estate industry. These jobs are not being replaced in the near future. This is why it is critical that individuals prepare for a long, protracted period of high unemployment by reducing their debt. If you are facing a job loss, don’t wait until a year passes and you’re unable to replace your job, act now to find out how bankruptcy can help you protect your assets from a job loss or reduced income.
About Reed Allmand
Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."
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