The department store giant is closing 125 stores in a bid to cut costs.
‘We are taking the organization through significant structural change to lower costs, bring teams closer together and reduce duplicative work, this will be a tough week for our team as we say goodbye to great colleagues and good friends. The changes we are making are deep and impact every area of the business, but they are necessary. I know we will come out of this transition stronger, more agile and better fit to compete in today’s retail environment’ – Jeff Gennette – Macy’s Chairman & CEO
