Macy's Closes 7 Stores And Cuts 2,300 Jobs

New York City, USA -gettyA post-Christmas look at store performance has prompted Macy’s management to close five department stores and two furniture galleries. The decision to close the stores (listed below) forced the decision to lay off 2,300 associates.The lay off translates into a reduction of about 3.5 percent of the Macy’s workforce and is occurring mostly at the company’s corporate office. The cuts are taking place across all of Macy’s corporate functions. In explaining these actions, a spokesman is ...