The massive store closure announced yesterday by the Macy’s chain would mean that New York would remain the sole headquarters of the company.
The company announced plans Tuesday to close 125 department stores in the next three years across the country, much higher than the 28 closures announced earlier this year by 2020.
Macy’s is also cutting some 2,000 corporate jobs and closing several offices, including one of its headquarters. Since 1994, Macy’s has had parallel headquarters in New York and Cincinnati.
On social networks, the news of the disappearance of the Cincinnati headquarters was met with a mixture of disappointment and silence. Kody Fisher, television station reporter Fox19 In Queen City, he tweeted that employees were told not to talk to the press about closures or cuts.
“We are leading the organization through a significant structural change to reduce costs, bring teams closer and reduce duplicate work ”, Macy’s president and CEO Jeff Gennette said in a statement following the publication of the preliminary results of the chain’s sales in 2019.
“This will be a difficult week for our team as we say goodbye to great colleagues and good friends. The changes we are making are profound and impact on all areas of the business, but they are necessary. I know we will leave this transition stronger, more agile and more apt to compete in today’s retail environment. ”
The closure will undoubtedly have an impact on shopping centers that have seen more and more retailers get out of the way, he said. Fox Business
Last May, Gennette confirmed that the company was planning Build a skyscraper on the roof of your flagship store on 34th Street in Manhattan, which would unlock the real estate value of the property. That store is considered “the largest in the world.”
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