Macy's will close these five stores following layoffs of more than 2,300 employees

The affected Macy's stores are in four states, including two in California

Macy’s will close five locations permanently. The closures come as part of a move first reported Thursday by the Wall Street Journal that includes the retailer eliminating about 2,350 jobs

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"As we prepare to deploy a new strategy to meet the needs of an everchanging consumer and marketplace, we made the difficult decision to reduce our workforce by 3.5% to become a more streamlined company," a Macy’s spokesperson told FOX Business.

Macy's sign

NEW YORK, NEW YORK - JANUARY 19: The Macy's company logo is seen at the Macy's store on Herald Square on January 19, 2024 in New York City. Macy's department-store chain announced that they will be laying off roughly 2,350 employees which is about 3. (Michael M. Santiago/Getty Images / Getty Images)

Macy's Inc.

Fitting rooms are seen at the newly opened Macy's store located at Arroyo Market Square, on Saturday, Sept. 30, 2023, in Las Vegas, Nev. (Bizuayehu Tesfaye/AP Images for Macy’s, Inc.) (Macy's Inc.)

The company reported in late October that there were around 500 Macy’s locations. It also owns Bluemercury and Bloomingdale’s.

Ticker Security Last Change Change %
M MACY'S INC. 19.09 -0.46 -2.35%

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The impacted Macy’s stores, located in four states, will hold clearance sales over about 8-12 weeks.

The following stores are the ones that Macy’s has decided to close:

  1. Macy’s Ballston (Arlington, Virginia)
  2. Macy’s Bay Fair (San Leandro, California)
  3. Macy’s Kukui Grove (Lihue, Hawaii)
  4. Macy’s Simi Valley Town Center (Simi Valley, California)
  5. Macy’s Governor’s Square (Tallahassee, Florida)

Sarah-Rumpf Whitten contributed to this report