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Macy’s closing down 9 stores
- By Katrina V. Dayrit
- Published 12/28/2007
- Business News
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Katrina V. Dayrit
View all news stories by Katrina V. Dayrit
Macy's Inc. announced Friday that it is closing nine stores with inadequate sales and said it will eliminate 899 jobs. Macy’s will close locations in Indiana, Ohio, Louisiana, Oklahoma, Utah and Texas. The 899 employees would be offered positions in nearby stores where possible, Macy’s said. It added that employees laid off in the process would be provided severance benefits and outplacement assistance. “While the decision to close stores is difficult, it is necessary that we do so selectively in locations with declining sales and where we have been unable to identify sufficient growth opportunities,”' chief executive Terry Lundgren said.