People wait for a Macy's department store to open in New York January 7, 2010. U.S. retailers including Macy's posted higher December sales and raised profit forecasts as they carefully managed promotions to lure shoppers during the holidays.
People wait for a Macy's department store to open in New York January 7, 2010. U.S. retailers including Macy's posted higher December sales and raised profit forecasts as they carefully managed promotions to lure shoppers during the holidays. REUTERS/Shannon Stapleton

Workers at four New York area Macy's stores are prepared to strike if a new contract agreement is not reached by midnight Wednesday.

More than 4,000 employees work at Macy's in Herald Square, Queens, Westchester and the Bronx.

Macy's is offering employees a 401(k) package in lieu of a defined-benefit pension plan. Also, the company currently sets hours based on workers' schedules and seniority. Macy's is now offering to use a computerized system to assign hours.

However, workers would have to contribute more money toward their health care under Macy's proposition, which also includes a 35 cent hourly raise.

Macy's workers voted unanimously last week to approve of a strike if necessary.

We have been and will continue to be at the bargaining table with the union, discussing issues and working together towards reaching an agreement before the deadline, Macy's spokesperson Elina Kazan said in an email. Our goal is to come to terms amicably with the union to prevent any work stoppage. We are available 24/7 to bargain in good faith.

Kazan also said the company plans on keeping the four stores open during a strike.

In the event of a work stoppage, we have contingency plan to make sure our stores open, she said.

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