MACY’S TO CUT 4,820 JOBS, SHUT 40 STORES

The Denver Post - - BUSINESS -

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.

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