Macy’s will close five locations permanently. The closures come as part of a move first reported Thursday by the Wall Street Journal that includes the retailer eliminating about 2,350 jobs.
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"As we prepare to deploy a new strategy to meet the needs of an everchanging consumer and marketplace, we made the difficult decision to reduce our workforce by 3.5% to become a more streamlined company," a Macy’s spokesperson told FOX Business.
The company reported in late October that there were around 500 Macy’s locations. It also owns Bluemercury and Bloomingdale’s.
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The impacted Macy’s stores, located in four states, will hold clearance sales over about 8-12 weeks.
Sarah-Rumpf Whitten contributed to this report
