CINCINNATI, OH (KTVI) – Macy’s announced Wednesday that the Jamestown Mall Macy’s will close by spring 2014, along with 4 other stores around the nation. The closure is part of Macy’s drive to cut cost by $100 million dollars starting in 2014.
In a statement released to the press, Macy’s states that the implementation of cost cutting measures, business strategies and new technologies, area a reflection of learning in today’s business environment.
2,500 employees will lose their jobs in the restructuring and cost cuttings, but employees that work near other Macy’s stores or brands maybe transferred. But those not eligible to transfer, maybe eligible for a severance package.
While in some areas, job growth will occur as Macy’s is expected to open 8 Macy’s and Bloomingdale’s stores around the country and in Puerto Rico.