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June 26, 2020

Macy's cuts 3,900 corporate jobs

NEW YORK (AP) — Macy's said Thursday it's laying off 3,900 corporate staffers, roughly 3% of its overall workforce, as the pandemic takes a financial toll on the iconic department store chain's sales and profits.

The company said in a release that the headcount reduction will save the company $630 million per year. In February, before the virus became a pandemic, Macy's said it would cut 2,000 jobs in its corporate office and close 125 stores.


 
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