Macy's Inc. (M) plans to trim about 3.5% of its workforce and close five of its stores as part of cost-cutting measures amid challenging market conditions, according to several media reports, citing a memo sent to employees Thursday afternoon.
The department-store chain will reportedly eliminate corporate jobs as it seeks to automate and move some roles offshore.
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April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.