Macy’s cuts 2 350 jobs
As it continues to streamline its business, the department store chain has announced that it will lay off about 3.5% of its workforce, or around 2 350 employees, and close five stores
“As we prepare to deploy a new strategy to meet the needs of an ever-changing consumer and marketplace, we made the difficult decision to reduce our workforce by 3.5% to become a more streamlined company”, a Macy’s spokesperson said to CNN.
According to the Wall Street Journal, Macy’s plans to increase automation in its supply chain, outsource some functions and reduce layers of management to speed up decision-making. Moving forward, the retailer also plans to hire more visual display managers to improve the look of its stores and upgrade its digital capabilities to make online shopping more seamless.
The company, which opened its first Macy’s store in 1858 and now operates some 500 Macy’s branded stores and 55 of the more upmarket Bloomingdale’s chain, has been struggling to appeal to a new type of consumer. This move also comes as Tony Spring, president of Macy’s, is set to take over from Jeff Gennette as chief executive officer next month.
Image Credits:.newyork.co.uk
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