Business & Tech
Macy's To Close SimiValley Store: Closing Sales
The store is expected to close by the end of March. Four other Macy's stores are targeted for closure including one in Northern California.
LOS ANGELES, CA — Macy's announced that it will close five stores this year, including the Macy's at Simi Valley Town Center, according to the company and multiple news reports. Closing sales are expected to begin this month.
The department store will cut roughly 3.5 percent of its workforce.
In a filing with the state, Macy's said that it would lay off employees in the early spring.
"At Macy’s, we continue to reposition our store fleet to better meet the needs of our customers in each of our markets." a company spokesperson said in a statement to the Chronicle, while emphasizing, “We remain committed to delivering a seamless shopping experience to our customers across channels... and a premier digital shopping experience.”
In fact, money saved through the closures is expected to be invested in existing stores and the company's online presence.
According to the Wall Street Journal, the other stores slated for closure are in San Leandro in Northern California; Lihue, Hawaii; Tallahassee, Florida; and Arlington, Virginia.
All told, the company plans to lay off 2,350 employees from Macy's, Bloomingdale’s and Bluemercury, which are subsidiaries. In addition to store employees, the company plans to chop corporate jobs. Macy’s began notifying employees Thursday afternoon that the layoffs would occur Jan. 26, according to an internal memo obtained by the Wall Street Journal.
See more in the Wall Street Journal and San Francisco Chronicle.
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