Macy’s to cut jobs, shutter offices amid store closings

Macy

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Macy's sales and earnings trends have deteriorated significantly over the past year.

Macy’s will be closing offices in San Francisco, eliminate some jobs as it shifts its digital operations to New York and Atlanta.  

The retailer is planning to close offices in San Francisco that handle tech functions, part of a larger restructuring that will cut roughly 2,000 positions overall. It is also shuttering about 125 stores over the next three years, including 28 that it previously said it would close.

The job cuts come in the wake of Macy’s sales continuing to slide during the all-important holiday season.

Macy’s has struggled to find its footing amid a shopping landscape that has seen retail giants like Toys R Us and Payless go out of business, and others slash locations as they try to compete with Amazon. 

Macy’s also cut jobs last year, announcing in February that it would pare roughly 100 positions at the vice-president level and above to streamline its leadership and become more nimble. 

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