Macy's To Close 125 Stores

2024 Author: Steven Freeman | [email protected]. Last modified: 2023-12-17 08:15

As we had informed you a few weeks ago, Macy's is experiencing financial problems and therefore was preparing to close 19 stores around the country. And it is that, like many other companies that have had to close many of their stores to stay afloat, Macy's tried to do the same without greatly affecting its employees and maintaining its presence in the community and among its customers, but apparently things got worse and now the number of stores to close is much higher.

It turns out that now not only will 19 stores be closing - these in the next three months - but the company will be disposing of 125 of its stores over the next three years and the truth is that we cannot believe it.

Some stores have already closed and even the offices where all the technology located in San Francisco, CA is handled, as well as the company's headquarters in Cincinnati, have just stopped operating.

As reported by the company, they will close most of the stores located in shopping centers and will focus more on opening smaller stores in small shopping centers. They also plan to improve their website.

"We are taking the organization through a significant structural change to lower costs, unify the team and reduce duplicate jobs," said Jeff Gennette, the company's CEO, in a statement. “The changes we are making are profound and impact all areas of the business, but they are necessary. I know that we are going to come out stronger, more agile and better from this transition that will leave us better prepared to compete in today's purchasing market.”

Worst of all, 2,000 administrative employees and a number to be determined in other positions will be affected by these changes. What a pity!