Macy's Is Cutting Thousands of Jobs and Shutting Down 125 Stores Nearly 2,000 corporate <br />jobs will be slashed, which is <br />about nine percent of the branch. Macy's also says that the store closings will take place during the next three years. The changes stem from the company's future <br />plans to enhance online business and <br />expand outside of physical malls. Macy's is also looking to soon open <br />50 more of its Backstage stores. According to CNBC, the chain is <br />depicting 2020 as a "transitional" period. Due to store closures, Macy's is expecting revenue to decrease in the fiscal year. Macy's CEO Jeff Gennette, <br />via statement Macy's CEO Jeff Gennette, <br />via statement
