Macy's Is Cutting Thousands of Jobs and Shutting Down 125 Stores
- 4 years ago
Macy's Is Cutting Thousands of Jobs and Shutting Down 125 Stores Nearly 2,000 corporate
jobs will be slashed, which is
about nine percent of the branch. Macy's also says that the store closings will take place during the next three years. The changes stem from the company's future
plans to enhance online business and
expand outside of physical malls. Macy's is also looking to soon open
50 more of its Backstage stores. According to CNBC, the chain is
depicting 2020 as a "transitional" period. Due to store closures, Macy's is expecting revenue to decrease in the fiscal year. Macy's CEO Jeff Gennette,
via statement Macy's CEO Jeff Gennette,
via statement
jobs will be slashed, which is
about nine percent of the branch. Macy's also says that the store closings will take place during the next three years. The changes stem from the company's future
plans to enhance online business and
expand outside of physical malls. Macy's is also looking to soon open
50 more of its Backstage stores. According to CNBC, the chain is
depicting 2020 as a "transitional" period. Due to store closures, Macy's is expecting revenue to decrease in the fiscal year. Macy's CEO Jeff Gennette,
via statement Macy's CEO Jeff Gennette,
via statement