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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 company's board appointed Ashley Buchanan, a retail veteran who had held top jobs in The Michaels Companies, Macy's, and Walmart, as the new CEO. CNN plans to cut 200 jobs.
On February 27, 2024, Macy's announced that it would be shuttering 150 locations by 2026, roughly 30% of its total store amount, to focus on small-format stores and an expansion of both Bloomingdale's and Bluemercury. 50 locations were initially set to close in 2024 alone, and the iconic flagship location in San Francisco's Union Square was ...
Online furniture seller Wayfair is cutting about 1,650 jobs, or 13% of its global workforce. Macy’s is laying off about 3.5% of its total headcount, which amounts to roughly 2,350 employees, and ...
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Despite closing five of its underperforming stores, Macy's announced it will open five new Macy's locations and three new Bloomingdale's stores as well as create new positions within the company's ...
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