Macy's on Thursday said it will cut about 3.5% of its workforce and close five of its namesake mall locations as the legacy department store moves to trim costs and turn around slowing sales.
The move will affect approximately 2,350 positions across its corporate office and stores, company spokesman Chris Grams said.
The majority of those — roughly 500 —are its namesake stores, followed by 158 Bluemercury stores and 56 Bloomingdale's stores.
The department store chain's footprint has gotten smaller in recent years, however.
He said since that 2020 announcement, Macy's had closed about 80 namesake locations and had plans to soon close another five.
Persons:
Chris Grams, Grams, Macy's, Tony Spring, Jeff Gennette, Adrian Mitchell, Mitchell, It's, Gennette
Organizations:
Wall Street
Locations:
Arlington , Va, Leandro, Calif, Lihue, Hawaii, Simi Valley, Tallahassee, Fla, Cincinnati, San Francisco