A person looks into a closed Macy’s Inc. department store near Union Square in San Francisco, California, U.S., on Thursday, June 18, 2020.
Michael Short | Bloomberg | Getty Images
Macy’sannounced Thursday it is cutting 3,900 corporate jobs 3% of its total workforce to reduce costs as it struggles with the effects of the coronavirus pandemic.
The department store chain said it expects to save about $365 million through the layoffs in fiscal 2020.It said it will save roughly $630 million on an annualized basis.
Macy’s said it has reduced staffing across its stores, supply chain and customer support network, which it will adjust as sales rebound.
“While the re-opening of our stores is going well, we do anticipate a gradual rec…
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