Macy’s to Slash 2,350 Jobs and Close 5 Stores

Published on January 20, 2024

The department store chain announced Thursday that Macy’s is cutting 2,350 jobs and closing five stores. The layoffs make up 3.5 percent of Macy’s overall workforce. The company operated 722 store locations as of January 2023 and employed 94,570 full- and part-time employees, excluding seasonal hires. Stores will be shuttered in Arlington, Virginia; San Leandro, California; Lihue, Hawaii; Simi Valley, California; and Tallahassee, Florida. “As we prepare to deploy a new strategy to meet the needs of an ever-changing consumer and marketplace, we made the difficult decision to reduce our workforce by 3.5% to become a more streamlined company,” Macy’s said in a statement reported by CNBC....

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