Macy’s is reducing its workforce by 3.5%, a company spokesperson confirmed by email on Thursday. The company also plans to close five Macy’s full-line stores.
“As we prepare to deploy a new strategy to meet the needs of an everchanging consumer and marketplace, we made the difficult decision to reduce our workforce by 3.5% to become a more streamlined company,” a spokesperson said in an emailed statement.
Macy’s last month was reportedly fielding an offer from activist investors interested in monetizing its property, with incoming CEO Tony Spring poised to take over early in the new year.
