Macy's has officially disclosed plans to close five stores this year, a list that includes the Macy's location at Simi Valley Town Center, as reported by the company and various news outlets. Closing sales are anticipated to commence this month.
As part of this restructuring, the department store is set to reduce approximately 3.5 percent of its workforce. According to a filing with the state, Macy's has outlined plans to carry out employee layoffs in the early spring.
A spokesperson from the company addressed the move, stating, "At Macy’s, we continue to reposition our store fleet to better meet the needs of our customers in each of our markets." The spokesperson emphasized the ongoing commitment to delivering a seamless shopping experience across channels and maintaining a premier digital shopping experience.
Notably, the funds saved through these closures are earmarked for investment in existing stores and bolstering the company's online presence. The Wall Street Journal reports that the other stores marked for closure are located in San Leandro in Northern California, Lihue in Hawaii, Tallahassee in Florida, and Arlington in Virginia.
The company plans to lay off 2,350 employees from Macy's, Bloomingdale's and Bluemercury, which are subsidiaries of the parent company. Macy's began to notify employees last Thursday afternoon that the layoffs would occur on January 26th.
