Macy’s cutting 7,000 jobs in restructuring
Macy’s Inc. plans to cut 7,000 jobs in a corporatewide restructuring that will centralize its operations and reduce expenses in one of the most difficult economic environments the retailer has faced.
The cuts follow by one year a consolidation where Macy’s folded three of its seven divisional offices into four. The move launched officially the “My Macy’s” merchandising program, which breaks each division into a number of buying districts, each tailored to align stores with specific market tastes.
There are approximately 20 Macy's stores in the region, and approximately 8,000 local employees. The company has fourteen corporate offices, none of which are located in the D.C. area.
The latest job cuts, representing about 4 percent of its work force, will affect 40 percent of its executive positions, plus more than 5,000 jobs in its roughly 850 stores. This total includes approximately 1,200 positions being added to new My Macy’s districts and regions.
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