Macy’s cutting 5,000 jobs, closing more stores

Retail giant Macy’s will cut 5,000 jobs and close seven more stores in Florida, California, Indiana, Michigan, Ohio and Vermont.

The moves are part of a plan announced in August 2016 to close 100 stores.

According to USA Today:

Macy’s will shutter seven new locations it had previously not identified for closure:
• Miami (Downtown), Miami, Fla.
• The Oaks, Gainesville, Fla.
• Novato (Furniture), Novato, Calif.
• Honey Creek Mall, Terre Haute, Ind.
• Birchwood Mall, Fort Gratiot Township, Mich.
• Fountain Place, Cincinnati, Ohio
• Burlington Town Center, Burlington, Vt.

The retailer also said Thursday that it is moving ahead with four other store closures previously announced:
• Laguna Hills Mall, Laguna Hills, Calif.
• Westside Pavilion, Los Angeles, Calif.
• Stonestown Galleria, San Francisco, Calif.
• Magic Valley Mall, Twin Falls, Idaho

Altogether, Macy’s has now revealed 81 of the 100 locations.
Macy’s is one of many traditional retail chains struggling for stability amid stiff competition from alternative retail chains and online retailers.
Macy’s will likely start liquidation sales on January 8th.