Macy's will close 68 stores and cut 10 thous. Employees

Фото: Depositphotos

Macy's chain of stores announced its intention to close 68 stores and cut 10 of thousands of employees, explaining that most of the buyers switched to online shopping.

Of the 68 stores to be closed, 3 is already closed, reports USA Today.

The rest will stop their work until the middle of 2017, leaving 3900 employees without work. Although the company promises that some of them will be offered employment in other stores of the network.

In addition to this, the company will cut more than 6 thousands of managers and lawyers, which in total will lead to the dismissal of 10 000 people.

According to the company's management, they are closing those outlets, in which sales have greatly decreased lately.

This news was badly reflected in the company's shares, the price of which after the announcement of the reduction fell by 8,7%.

Full list of Macy's closing stores

In August 2016 years Macy's has declared intention close about 100 stores, promising that this will be the last round of closures.

Macy's is one of the brick-and-mortar chains facing losses due to the rise of online shopping. It currently has 730 stores in the United States.

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