Macy's is cutting 100 management jobs as part of a restructuring plan.
is cutting 100 management jobs as part of a restructuring plan.Macy's said it is putting additional resources behind attracting new customers, improving its supply chain, and innovating inventory management.As part of its fourth-quarter earnings results on Tuesday, the department-store chain announced that it will be streamlining its management structure to cut costs and speed up decision-making.
"The steps we are announcing to further streamline our management structure will allow us to move faster, reduce costs and be more responsive to changing customer expectations," CEO Jeff GennetteWith these savings, Macy's will look to improve its supply chain and inventory management system and attract new customers.
"Importantly, these changes build the foundation we need to achieve meaningful enterprise productivity improvements," Gennette said. He continued:"These actions impact colleagues who have made strong contributions to the company over the years, and I thank them for their service."The CEOs of YouTube and 23andMe are part of a group of investors making a $55 million bet on Victoria's Secret challenger ThirdLove
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