MACY’S TO CUT 4,820 JOBS, SHUT 40 STORES
new york » Macy’s is cutting up to about 4,820 jobs and has slashed its profit outlook after miserable holiday sales.
The nation’s largest department store chain, which also operates upscale Bloomingdale’s, said about 2,110 of the job cuts will come from reducing staffing levels at stores, eliminating duplications in backoffice operations and consolidating regional store groups.
The remaining 2,710 job cuts will come from the store closings that Macy’s announced last fall, said Macy’s spokesman Jim Sluzewski.
As of Wednesday, Macy’s had about 163,000 workers.
The company also listed Wednesday which 40 stores it would close or had closed. None are in Colorado.
The Cincinnati- based department store chain says sales at existing stores and excluding licensed departments fell 5.2 percent in November and December. Macy’s said unseasonably warm weather that extended through December was the biggest culprit and hurt shopper demand for coldweather items such as boots and coats.