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Macy's to restructure merchandising unit, cut 100 jobs
August 21, 2017 / 9:16 PM / 2 months ago

Macy's to restructure merchandising unit, cut 100 jobs

Aug 21 (Reuters) - U.S. department store chain Macy’s Inc said on Monday it would restructure its merchandising operations, which could result in about 100 job cuts.

The company said it expected one-time costs of about $20 million-$25 million mainly in the third quarter, and would save about $30 million on a yearly basis.

Macy’s also named former eBay Inc executive Hal Lawton as president, effective Sept. 8. (Reporting by Roopal Verma in Bengaluru; Editing by Martina D‘Couto)

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