Current:Home > ScamsMacy's layoffs 2024: Department store to lay off more than 2,000 employees, close 5 stores-LoTradeCoin
Macy's layoffs 2024: Department store to lay off more than 2,000 employees, close 5 stores
View Date:2024-12-23 20:43:36
Department store chain Macy's is planning to lay off about 13% of its corporate staff and close five stores in an effort to trim costs and redirect spending to improve the customer experience.
The Wall Street Journal first reported the news on Thursday, adding that the job cuts will total about 2,350 positions, or about 3.5% of Macy's overall workforce excluding seasonal hires.
The Journal, citing a memo sent to employees late Thursday, reported that Macy's plans to add more automation to its supply chain and to outsource some roles, although the memo didn't specify which jobs would be outsourced.
The company also plans to reduce management layers to speed up decision-making, according to The Journal.
The Journal also reported that Macy's will be investing in areas that affect consumers, such as adding visual display managers to enhance the look of stores and upgrading digital functions to make online shopping more seamless.
Macy's did not immediately respond to a USA TODAY request for comment.
How to prepare yourself for layoffs:Worried about job cuts heading into 2024? Here's how to prepare for layoff season
Layoffs also hitting other industries
Macy's joins other large companies across multiple sectors to recently announce layoffs.
Google has announced two rounds of layoffs in the past two weeks, eliminating several hundred roles in its advertising sales, hardware and central engineering teams. The layoffs also affected employees who work on Google Assistant, the company's voice-activated software product.
Amazon's livestreaming platform, Twitch, also announced earlier this month that it was cutting 35% of its workforce. Amazon is also cutting jobs in its Prime Video and Amazon MGM Studios divisions, and other tech companies, like Discord and Duolingo, have announced layoffs to start the year.
General Motors announced in December that it would lay off 1,314 employees at two factories in Michigan in connection to ending production of vehicles.
NBC News also recently announced it was laying off several dozen employees.
veryGood! (5578)
Related
- Just Eat Takeaway sells Grubhub for $650 million, just 3 years after buying the app for $7.3 billion
- The Taliban are entrenched in Afghanistan after 2 years of rule. Women and girls pay the price
- Trump assails judge in 2020 election case after she warned him not to make inflammatory remarks
- Trial for Hunter Biden is not inevitable, his attorney says
- Texas mother sentenced to 50 years for leaving kids in dire conditions as son’s body decomposed
- Argentine peso plunges after rightist who admires Trump comes first in primary vote
- Publisher of small Kansas newspaper calls police raid Gestapo tactic but police insist it was justified
- Tributes pour in for California hiker who fell to her death in Grand Teton National Park
- The Cowboys, claiming to be 'all in' prior to Dak Prescott's injury, are in a rare spot: Irrelevance
- Jimmy Fallon Is the Ultimate Rockstar During Surprise Performance at Jonas Brothers Concert
Ranking
- 1 monkey captured, 42 monkeys still on the loose after escaping research facility in SC
- A's pitcher Luis Medina can't get batter out at first base after stunning gaffe
- Cyberbullying in youth sports: How former cheerleader overcame abuse in social media age
- 2 dead after plane crashes into North Carolina lake, authorities say
- 'Full House' star Dave Coulier diagnosed with stage 3 cancer
- Sofia Richie Reveals How Dad Lionel Richie Influences Her Beauty Routine
- A landmark case: In first-of-its-kind Montana climate trial, judge rules for youth activists
- How to get rid of pimples: Acne affects many people. Here's what to do about it.
Recommendation
-
All Social Security retirees should do this by Nov. 20
-
3 men found dead in car outside Indianapolis elementary school
-
Hilary Duff's Relatable Wellness Approach Is What Dreams Are Made Of
-
Prosecutors have started presenting Georgia election investigation to grand jury
-
Jake Paul's only loss led him to retool the team preparing him to face Mike Tyson
-
John Legend and Chrissy Teigen's Baby Girl Esti Says Dada in Adorable Video
-
Woman goes missing after a car crash, dog finds her two days later in a Michigan cornfield
-
Jury acquits 1 of 2 brothers charged in 2013 slaying in north central Indiana