The department store giant, Macy’s announced it will be closing 5 stores and cutting about 2,350 positions.
The layoffs will take place on January 26th and the stores that are closing are located in Arlington, Virginia; San Leandro and Simi Valley, California; Lihue, Hawaii, and Tallahassee, Florida.
Macy’s spokesperson said, “ 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.”
The company is looking to open up 30 smaller stores in strip malls over the next two years coming this fall.
Macy’s CEO Jeff Gennette will retire in early February, and Tony Spring, current CEO of Bloomingdale’s will be the company’s new leader.
By - FZ
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