December sales dropped by 7.9 percent, and this cut comes on the heels of them closing underperforming stores last year.
Retailer Macy’s Inc (M.N) plans to cut 271 jobs in the Chicago, Detroit and Minneapolis areas, closing most of its in-store wine shops and several food operations, the Chicago Tribune reported Saturday.
The layoffs, which will take effect in March, include store-level and corporate posts in areas such as alterations, food, marketing, visual and finance, the newspaper said in a report on its Web site.
Is Macy’s an isolated case, or are we going to see an increased number of people getting laid off from the retail sector? This doesn’t sound like the normal “post-holiday” cutback, that’s for sure.
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