Macy’s in crisis: cuts and closures for the historic department store chain

The situation for Macy’s, the historic US department store chain, seems to be getting complicated. The company is in the process of reducing its workforce by more than 2,300 positions, corresponding to approximately 3.5% of its staff.

According to American media reports, in early 2024, Macy’s plans to close five of its stores in the United States.