Macy's is cutting 2,500 jobs as part of a reorganization it says will save $100 million a year and boost 2014 profit above Wall Street's forecast.
Macy's, which also runs the Bloomingdale's chain, has been a standout in retailing and had a strong holiday shopping season.
While cutting some jobs, Macy's says it also plans to hire or transfer others, leaving its overall workforce at around 175,000.
The company plans to close five stores and open eight others, giving it 844 stores nationwide once its reorganization is complete.
Copyright 2014 USA TODAY
Original headline: Macy's to cut 2,500 jobs in retail reorganization
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