Business & Tech
Macy's Slashing 2,500 Jobs, Closing Some Stores
The chain still faces resistance from shoppers in markets where it replaced a favorite local store, such as Marshall Field's.
Macy's announced it is closing five underperforming stores and reducing its workforce by 2,500, according to the Chicago Tribune. However, no Chicago-area stores will be closed, the paper said.
The layoffs come from reducing the number of districts and cutting out district planners in home furnishings, MarketWatch.com reported. The chain's fourth-quarter results equate to a 2.5 percent sales gain, the site said.
Macy's is still struggling with resistance from shoppers in some markets where it replaced local favorites--such as Marshall Field & Co. in Chicago--according to Huffington Post.
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