February 14, 2025
Macy’s to chop greater than 2,300 jobs, about 3.5% of its workforce, and shut 5 shops

A buyer exits the Macy’s flagship division retailer in midtown Manhattan in New York Metropolis, U.S., December 11, 2023. 

Brendan Mcdermid | Reuters

Macy’s on Thursday mentioned it’s going to reduce about 3.5% of its workforce and shut 5 of its namesake shops because the legacy division retailer strikes to trim prices and flip round slowing gross sales.

The transfer will have an effect on roughly 2,350 positions throughout its company workplace and shops, firm spokesman Chris Grams mentioned. The shops will shut in early 2024, he added.

“As we put together to deploy a brand new technique to fulfill the wants of an everchanging client and market, we made the tough determination to scale back our workforce by 3.5% to turn into a extra streamlined firm,” the corporate mentioned in a press release.

The information was first reported by The Wall Avenue Journal.

That is breaking information. Please test again for updates.