The cuts represent around 3.5% of its workforce of the 166 year old department store business. The announcement was made on Thursday with the last day of employment for affected employees to be January 26.
Macy's cuts 3.5% of its workforce to become a more streamlined company, preparing to deploy strategies to address the ever-changing consumer and marketplace. Read more.
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.