February 6, 2020
Macy’s Inc. is consolidating its corporate headquarters into Manhattan and will close its offices in downtown Cincinnati, San Francisco and Lorain, OH. The retailer’s digital platform will also relocate its offices to Manhattan, and the company will boost its presence in the Atlanta area, which will serve as its technology hub.
The consolidation is part of a three-year strategy to stabilize profitability and position the company for growth. Macy’s also plans to close 125 stores during that time, including 30 in the process of closure now.
“We are taking the organization through significant structural change to lower costs, bring teams closer together and reduce duplicative work,” said Macy’s CEO Jeff Gennette. “The changes we are making are deep and impact every area of the business, but they are necessary. I know we will come out of this transition stronger, more agile and better fit to compete in today’s retail environment.”
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