Macy's to Lay Off 2,500 Employees Amid Cost Cutting

In the same breath as it announced a "successful" holiday season, Macy's said it would lay off some 2,500 employees as it attempts to achieve $100 million in savings a year. In addition to the workers losing their jobs, some associates will be reassigned or transferred, the retailer said. Not all open positions will be filled. Among the positions targeted: district merchandise planners for Macy's soft home categories, whose responsibilities will be handed off to regional and national organizers. Macy's said it plans to trim central office, administration and back-of-house expenses.