Money

Actions

Macy's cutting 5,000 jobs, seven more stores

Posted at 11:46 AM, Jan 04, 2018
and last updated 2018-01-04 13:02:17-05

Retail giant, Macy's will cut 5,000 jobs and close seven more stores in Florida, California, Indiana, Michigan, Ohio and Vermont.  

The moves are part of a plan announced in August 2016 to close 100 stores. 

Altogether, Macy's has now revealed 81 of the 100 locations.

Macy's is one of many traditional retail chains struggling for stability amid stiff competition from alternative retail chains and online retailers.

Macy's will likely start liquidation sales on Jan. 8.

The following Macy’s stores will be closing in early 2018. In most cases, clearance sales will begin on January 8, 2018, and run for approximately 8 to 12 weeks.

Laguna Hills Mall, Laguna Hills, CA *

Westside Pavilion, Los Angeles, CA*

Novato (Furniture), Novato, CA

Stonestown Galleria, San Francisco, CA *

The Oaks, Gainesville, FL

Miami (Downtown), Miami, FL

Magic Valley Mall, Twin Falls, ID*

Honey Creek Mall, Terre Haute, IN

Birchwood Mall, Fort Gratiot Township, MI

Fountain Place, Cincinnati, OH

Burlington Town Center, Burlington, VT

*Previously disclosed closure