Macy’s To Slash 3,900 Corporate Job iIn Restructuring

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Macy’s announced Thursday it is laying off 3,900 corporate jobs in a move to cut costs as its business has been hurt by the coronavirus pandemic.

The department store chain said it expected to save about $365 million through the layoffs in fiscal 2020.

Macy’s shares were last down about 3% in premarket trading on the news.

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