Macy’s to close 125 stores, cut 2000 positions to drive growth

Announcing an updated strategy and three-year plan designed to stabilize profitability and position the company for growth, Macy’s Inc. said, the company plans to close approximately 125 of its least productive stores over the next three years, including approximately 30 stores that are in the process of closure now. Macy’s is also streamlining its organization with a net reduction in its corporate and support function headcount of 9 percent or around 2,000 positions. The company will also close its San Francisco, downtown Cincinnati and Lorain, OH offices and its Tempe, AZ customer contact center consolidating customer service work into its Mason, OH and Clearwater, FL facilities.