AP, NEW YORKMacy’s Inc on Tuesday said it is closing 125 of its least productive stores and cutting 2,000 corporate jobs, as the struggling department store tries to reinvent itself in the age of online shopping. Macy’s did not specify how many jobs would be lost at the shuttered stores. The corporate jobs would be shed as Macy’s closes its offices in Cincinnati and San Francisco, leaving New York as its sole corporate headquarters. Macy’s said that the 2,000 jobs to be lost account for about 9 percent of its corporate workforce. It has also been closing stores over the past few years and has reduced layers of management as it tries to be more agile.

Source: Taipei Times February 05, 2020 15:56 UTC