Macy's to cut more than 2,300 jobs and close five stores

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.

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.

“As we prepare to deploy a new strategy to meet the needs of an everchanging consumer and marketplace, we made the difficult decision to reduce our workforce by 3.5% to become a more streamlined company,” the company said in a statement.

The company notified employees about the layoffs on Thursday and the last day for affected employees will be Jan. 26.

Stores that will be shuttered are located in Arlington, Virginia; San Leandro, California; Lihue, Hawaii; Simi Valley, California and Tallahassee, Florida. The stores will close in early 2024, Grams added.

https://www.nbcnews.com/business/corporations/macys-cut-2300-jobs-close-five-stores-rcna134693

---