Business

Macy’s closing dozens of stores and cutting roughly 2,000 employees

By Tim Pearce
Published February 4, 2020 10:56pm ET
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Macy’s closing dozens of stores and cutting roughly 2,000 employees
In this photo taken Thursday, Jan. 9, 2020, "store closing" signs fill the windows in a Macy's store in downtown Seattle. The store is one of nearly 30 Macy's stores to be closed nationwide in the coming weeks.

Macy’s is shuttering dozens of stores across the country and laying off thousands of employees after a disappointing holiday season.

The retail giant announced on Tuesday that it was closing about one-fifth of its locations and cutting about 10% of its staff, or about 125 stores and 2,000 employees. The layoffs come as Macy’s stores are losing foot traffic to online shopping.

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