{"id":2153249,"date":"2024-01-18T20:37:03","date_gmt":"2024-01-19T01:37:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/macys-announces-layoffs-for-2350-employees-amid-five-store-closures\/"},"modified":"2024-01-18T20:40:43","modified_gmt":"2024-01-19T01:40:43","slug":"macys-announces-layoffs-for-2350-employees-amid-five-store-closures","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/macys-announces-layoffs-for-2350-employees-amid-five-store-closures\/","title":{"rendered":"Macy&#8217;s cuts 2,350 jobs, closes five stores"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmacys-announces-layoffs-for-2350-employees-amid-five-store-closures%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2153249&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Department store Macy\u2019s to lay off over 2,000 employees<\/h2>\n<p>In a move that will affect approximately 3.5%\u2064 of its workforce, Macy&#8217;s\u2064 has announced plans to lay off around\u200c 2,350 employees starting next \u200bweek. The news was\u2062 revealed in a memo obtained by the Wall Street Journal.<\/p>\n<h3>Store closures and ongoing challenges<\/h3>\n<p>The memo also disclosed the\u200d closure \u200bof several Macy&#8217;s stores, including locations\u2062 in Arlington, Virginia; \u2063San Leandro, California; Simi Valley,\u200d California; Lihue, Hawaii; and Tallahassee, Florida.\u2062 This\u2062 comes as part of the company&#8217;s strategy to optimize its digital and \u2064physical store presence, with a plan to eliminate \u200ba total of 100 branches.<\/p>\n<p>Despite recent progress, Macy&#8217;s acknowledged the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/exclusive-house-republican-leaders-send-letter-to-surgeon-general-over-big-tech-censorship\/\" title=\"Exclusive: House Republican Leaders Send Letter to Surgeon General over Big Tech Censorship\">ongoing pressure<\/a>\u2062 it faces. The retailer&#8217;s workforce had been gradually recovering from the impact of the\u200c 2020 pandemic, but it still falls short of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/south-dakota-lowers-unemployment-to-pre-pandemic-levels-after-state-rejected-lockdowns\/\" title=\"South Dakota Lowers Unemployment to Pre-Pandemic Levels After State Rejected Lockdowns\">pre-pandemic levels<\/a> by approximately 30,000 employees.<\/p>\n<h3>Leadership changes and stock decline<\/h3>\n<p>Macy&#8217;s President Jeff Gennette will be stepping down next month, making way for Tony Spring to take over. Gennette has been at the helm since 2017, during which time the company&#8217;s stock experienced a significant \u200ddecline, dropping 75% from its peak of $73 per share to less\u200d than $18.<\/p>\n<h3>Remaining stores and\u2064 future prospects<\/h3>\n<p>Despite the challenges, \u200bMacy&#8217;s\u2064 still operates over \u200d550 stores, including \u200cits subsidiary Bloomingdale&#8217;s. The retailer has also made adjustments to its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cdc-advises-unvaccinated-to-stay-home-for-holidays\/\" title=\"CDC Advises Unvaccinated To Stay Home For Holidays\">holiday traditions<\/a>, such as retiring the Great Tree Lighting event at its \u200ddowntown Boston store. As the company navigates these changes, it has yet to release its holiday\u2064 season sales figures.<\/p>\n<p> <\/p>\n<h2> What challenges is Macy&#8217;s currently facing that prompted the resignation of its President and the decline in \u2063its stock value<\/h2>\n<p><span>  Department store Macy&#8217;s has announced plans to lay off over\u2062 2,000 employees, which will affect approximately 3.5% of its workforce. The news of the \u2062layoffs was \u2064revealed \u2062in a \u200bmemo obtained\u200d by the Wall\u200d Street Journal.<\/p>\n<p>In addition to the layoffs, Macy&#8217;s also disclosed the closure of several \u2063of \u200dits stores in\u200d different locations \u2064across the country. \u200bThis includes stores in Arlington, Virginia;\u200c San Leandro and Simi Valley, California; Lihue, Hawaii; and\u2064 Tallahassee, Florida. \u2062These \u2064closures \u200care part of Macy&#8217;s strategy to optimize its\u200d digital and physical store presence, with\u2064 a plan \u2064to eventually \u2063eliminate a total of 100 \u200cbranches.<\/p>\n<p>Despite \u200brecent progress, \u200bMacy&#8217;s acknowledges\u200d the ongoing challenges\u2062 it faces. The company&#8217;s workforce had been slowly recovering from the \u2064impact of the 2020 pandemic, but it is still short of pre-pandemic levels by approximately 30,000 employees.<\/p>\n<p>In addition\u2064 to\u200b the layoffs and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/target-announces-closure-of-9-stores-in-democrat-strongholds-due-to-theft-and-organized-retail-crime\/\" title=\"Target to close 9 stores in Democrat strongholds due to theft and organized retail crime.\">store\u2064 closures<\/a>, Macy&#8217;s President Jeff Gennette will be stepping down next month. Tony Spring will be taking over as the\u200d new president. Gennette has been leading the company since 2017, and\u2062 during his tenure, the company&#8217;s stock experienced a\u2064 significant decline. Its stock dropped 75%\u200d from its peak of $73 per\u200b share to less than $18.<\/p>\n<p>However, despite these setbacks, Macy&#8217;s\u200b still operates over 550 stores, including its subsidiary Bloomingdale&#8217;s. The company has also made adjustments to its holiday traditions, such as retiring \u2063the Great Tree \u2062Lighting event at its downtown Boston store.\u2063 As \u2063the company navigates these changes, it\u200d has yet to release\u200d its holiday\u200b season sales figures.<\/p>\n<p>In conclusion, Macy&#8217;s is <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/struggling-cnn-names-its-3rd-ceo-in-the-last-2-years\/\" title=\"CNN appoints its third CEO in just two years, facing ongoing challenges.\">facing ongoing challenges<\/a> that have \u200dresulted in the \u2063decision to \u2064lay\u200c off over 2,000 employees. The company is also implementing store\u200d closures \u2064as part of its\u2063 strategy to optimize its presence in both digital\u200c and \u2062physical \u200bretail. Despite these changes,\u200c Macy&#8217;s continues to operate\u200b a significant number of \u200dstores\u2063 and is adapting its holiday traditions. The future prospects of the company remain\u2062 uncertain, with the impact of these changes yet to\u2062 be seen.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Department store Macy&#8217;s plans to cut around 2,350 jobs, approximately 3.5% of its workforce, starting next week. The company sent a memo on Thursday, as reported by the Wall Street Journal, stating that the layoffs will take place on January 26. Seasonal hires during the holidays will not be affected. Additionally, the memo revealed store closures in Arlington, Virginia<\/p>\n","protected":false},"author":2631,"featured_media":2153250,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2153249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2153249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2631"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2153249"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2153249\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2153250"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2153249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2153249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2153249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}