Macy’s is eliminating about a quarter of its corporate workforce, slashing 3,900 white-collar jobs in a sweeping effort to cut costs during the coronavirus pandemic, the Washington Post reported. The layoffs announced yesterday come just months after the beleaguered retailer announced it would close 125 stores — about a fifth of its total — and shed 2,000 positions after a disappointing holiday season. The company also is scaling back staffing at its Macy’s and Bloomingdale’s stores, distribution facilities and customer service centers, but says that it will “adjust as sales recover.” The department store chain projected the moves would save it $630 million a year. The pandemic “has significantly impacted our business,” chief executive Jeff Gennette said in a statement. “While the reopening of our stores is going well, we do anticipate a gradual recovery of business. … We know that we will be a smaller company for the foreseeable future.”
