Macy’s Closing 63 Stores, Cutting 10,100 Jobs

Macy’s Inc. (M) outlined restructuring plans Wednesday that will eliminate more than 10,000 jobs at the struggling department store giant as it closes about 63 stores this spring and looks to cut additional costs. The retailer said it would

eliminate about 3,900 jobs with the store closings, which are part of a plan announced last summer that will close about 100 of Macy’s 730 locations. It also will eliminate about 6,200 other positions as part of an effort to streamline operations and reduce expenses so it can invest more in its digital operations.  READ MORE