Macy’s to Cut 4% of its Workforce

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.