Macy’s Is Cutting About 3.5% of Workforce and Closing Five Stores
The company said the cuts include about 2,350 employees, mostly in corporate positions.
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Macy’s Inc. is laying off about 3.5% of its workforce ahead of the departure of longtime Chief Executive Officer Jeff Gennette, as the department-store operator retrenches amid lower demand.
The company said the cuts include about 2,350 employees, mostly in corporate positions. It will also close five stores. The Wall Street Journal earlier reported the layoffs and store closures.