Macy's to close 125 stores, shed 2,000 corporate jobs
February 5, 2020
NEW YORK - Macy's said Tuesday it is closing 125 of its least productive stores and cutting 2,000 corporate jobs as the struggling department store tries to reinvent itself in the age of online shopping.
The store closures represent about one fifth of Macy's current total. They include about 30 that are in the process of closing and account for $1.4 billion in annual sales.