Macy’s is shutting down 45 of its locations by the middle of 2021 to restructure the company and vacate underperforming malls.
The closures were confirmed in a report by CNBC. Staff at each of the closing locations were notified this week, though a complete list of those stores was not released. However, Macy’s locations in Cincinnati, OH, and Northwest Indiana confirmed that stores in their area were set to close. The 45 store closures of 2021 are a part of a larger initiative to shut down 125 locations by 2023.
In addition to countless retail positions, the closures will eliminate 2,000 corporate jobs resulting from closing its Cincinnati headquarters and San Francisco tech offices.
Macy’s plan is to withdraw from struggling shopping malls and focus more on strip malls. Since 2015, the company has closed over 100 stores. Currently, they have 544 locations, 34 Bloomingdale’s locations, 19 Bloomingdale’s outlets, and 166 Bluemercury shops.
Discover more from Baller Alert
Subscribe to get the latest posts sent to your email.
