Summary
Macy’s is closing 14 stores in the United States and plans to lay off over 1,000 workers as part of a restructuring plan. The changes are part of an effort to simplify operations and modernize their supply chain, aiming to improve their business over time.
Key Facts
- Macy’s will close 14 stores across the U.S.
- Over 1,000 employees will be laid off as part of this change.
- Two major distribution centers in Connecticut will shut down, resulting in job cuts.
- The company's "Bold New Chapter" plan includes closing underperforming stores and investing in successful locations.
- The restructuring is aimed at streamlining operations and enhancing customer experiences both in stores and online.
- Macy’s plans to improve and invest in 125 "Reimagine" stores which have shown better sales.
