Cincy-Based Department Store Cutting Jobs

January 9, 2014
By

The department store plans to cut jobs while transferring and adding some positions.

The department store plans to cut jobs while transferring and adding some positions.

Macy’s is cutting 2,500 jobs nationally as part of a reorganization to sustain its profitability.

The announcement comes on the heels of a strong holiday shopping season for the department store chain.

The department store announced that it will reassign or transfer some workers. Some positions will be added that relate to online shopping, which is a growing area for the company.

The Cincinnati-based company plans to close five stores, leaving it with 844 stores nationwide once the changes are complete.

Macy’s says the moves will save it $100 million per year and forecast a 2014 profit above Wall Street’s forecasts.

The news sent its shares up over 5 percent in after-hours trading.

 

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