Macy’s Inc. said Monday it will cut 7,000 jobs, or 4 percent of its work force, according to media reports.
The Cincinnati-based retailer said the work force reduction includes positions in offices, stores, and other locations, the Associated Press reports. The cuts will include some unfilled jobs.
The company has a total current work force of approximately 180,000, the AP reports.
Macy’s anticipates the reductions and other actions will lower its selling, general and administrative expenses by about $400 million annually starting in 2010, the AP reports.