Macy’s will close these five stores following layoffs of more than 2,300 employees

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Macy’s will close five locations permanently. The closures come as part of a move first reported Thursday by the Wall Street Journal that includes the retailer eliminating about 2,350 jobs. 

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“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,” a Macy’s spokesperson told FOX Business.

Macy's Inc.

The company reported in late October that there were around 500 Macy’s locations. It also owns Bluemercury and Bloomingdale’s.

Ticker Security Last Change Change %
M MACY’S INC. 17.64 -0.30 -1.67%

MACY’S OPENING UP TO 30 SMALL-FORMAT STORES

The impacted Macy’s stores, located in four states, will hold clearance sales over about 8-12 weeks.

The following stores are the ones that Macy’s has decided to close:

  1. Macy’s Ballston (Arlington, Virginia)
  2. Macy’s Bay Fair (San Leandro, California)
  3. Macy’s Kukui Grove (Lihue, Hawaii)
  4. Macy’s Simi Valley Town Center (Simi Valley, California)
  5. Macy’s Governor’s Square (Tallahassee, Florida)

Sarah-Rumpf Whitten contributed to this report

Read the full article here

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