Illinois Spared In Macy's Restructuring, Mass Layoffs
By Chuck Sudo in News on Jan 8, 2014 11:00PM
It looks as though Illinois Macy’s stores were spared the wrecking ball when the when the retail giant announced it was closing five stores and laying off 2,500 employees in a restructuring plan Wednesday.
The closings of one store each in Arizona, Kansas, Missouri, New York and Utah is expected to save the company $100 million. Macy’s also announced they would open eight new Macy’s and Bloomingdale’s stores across the country as part of the restructuring.
Macy’s announced it would merge its North and Midwest regions, cut some front-end employees at some locations, lay off central office and merchandise planning staff and give some sales associates extra duties.
Macy’s also announced Tuesday that comparable sales, including sales from departments licensed to third parties, rose 4.3 percent during the November-December sales period.