More bad economic news arrived on Monday for Atlantans, as Macy's said it is eliminating some 850 local jobs at its regional heaquarters. Overall, the company is trimming more than 7,000 jobs nationwide.Macy's indicated the work force reduction includes positions in offices, stores and other locations.
According to company CEO Terry Lundgren, "Reducing our workforce is an unfortunate outcome of the current economic environment, and I am frustrated that so many of our people will be unable to move forward with us as we proceed into a very exciting future for Macy's and Bloomingdales."
Macy's says the cuts and other actions will drop its selling, general and administrative expenses by about $400 million annually starting next year.
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