Macy’s stores closing 2024: List of impacted locations as layoffs loom for thousands

The iconic department store chain Macy’s has made several troubling announcements for both customers and employees this week. Macy’s will shutter five underperforming stores across the country while simultaneously laying off about 2,350 employees in both retail and corporate positions. The news was first reported by the Wall Street Journal.



Macy’s store closures come as brick-and-mortar retail outlets continue to face significant headwinds from consumers who increasingly make online retailers like Amazon their first shopping destination. The stores that are closing are:



Bayfair Center , San Leandro, California Simi Valley Town Center , Simi Valley, California Governor’s Square , Tallahassee, Florida Kukui Grove Center, Lihue, Hawaii Ballston Quarter , Arlington, Virginia



As of October 2023, Macy’s had 723 locations in the United States, notes CNBC. About 500 of those locations are Macy’s-branded stores, 158 are the company’s Bluemercury stores, and 56 are the company’s Bloomingdale’s stores.



Reached for comment, a Macy’s spokesperson told Fast Company, “As we prepare to deploy a new strategy to meet the needs of an ever-changing consumer and marketplace, we made the difficult decision to reduce our workforce by 3.5% to become a more streamlined company.”



While Macy’s is shuttering five of its primary stores, the company will actually soon increase its retail store footprint. In October, the company announced it will open 30 trimmed-down stores in strip malls over the next two years. The move will help it counter falling foot traffic at its stores attached to malls and also help it better compete with big-box retailers like Target and Walmart.



In addition to the store closings, Macy’s also confirmed it will be laying off approximately 2,350 employees from both its retail and corporate divisions. In January 2023, Macy’s had 94,570 employees. The layoffs mean Macy’s will reduce its total workforce by about 3.5%. The company says the last workday for employees who will be laid off is January 26.



“Despite our strong and tangible progress over the last few years, we remain under pressure,” outgoing Macy’s CEO Jeff Gennette wrote in a memo to employees. Gennette is set to be succeeded by current Macy’s President Tony Spring next month.



Macy’s announcement to close stores and lay off employees comes not just after a rough few years for retail in general, but about a month after activist investors announced they were seeking to buy out the company for $5.8 billion.



Macy’s stock currently trades just below $18 a share, well below its 2015 high of nearly $70 per share.



This story has been updated with Macy’s response.