Macy's says it plans to lay off about 2500 employees nationwide and close five stores as part of a cost cutting plan. One of those stores is located at Jamestown Mall in North St. Louis County. The closing will impact 88 workers at that store, which has been open since 1994.
A Macy's press release says other employees will be reassigned with new duties or transferred. The retailer says the changes will generate about $100-million per year. Macy's reported fiscal 2012 sales of $27.7 billion. The company operates about 840 department stores in 45 states, the District of Columbia, Guam and Puerto Rico under the names of Macy's and Bloomingdale's.