PREVIEW

Macy’s Is Laying Off Over 2000 Workers Closing 5 Stores. According to a memo sent to employees on Jan. 18, Macy's is cutting 2,350 jobs and shutting down five stores, 'Time' reports. "As we prepare to deploy a new strategy to meet the needs of an ever-changing consumer and marketplace, we made the difficult decision to reduce our workforce by 3.5% to become a more streamlined company." Macy's spokesperson, to 'Time'. The five stores that will close are located in San Leandro and Simi Valley, California; Tallahassee, Florida; Lihue, Hawaii and Arlington, Virginia. The stores will run clearance sales for 8-12 weeks prior to closing. According to the memo, America's largest department store operator intends to terminate management roles and implement additional automation services. Macy's union has yet to respond to the layoffs. On Black Friday, the union went on strike in Washington State. "Macy’s CEO gets $11m per year while a lot of his workers rely on food banks, and some can’t even afford to see doctors because of the low wages and the expensive healthcare." Azia Domingo, an employee who has worked for Macy’s for 21 years, told 'The Guardian' in November. The layoffs come as Macy's prepares for a new CEO, Tony Spring, who is set to take the helm in February. Its current CEO, Jeff Gennette, who reportedly made over 12 million in 2021, has been in charge since 2017. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT