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Macy's Gets Stock Lift From Layoffs
- USA Today, Friday, January 10, 2014 8:06 AM
Macy's shares are up 7% after the company's Thursday announcement of a series of cost-cutting moves Wednesday that it said would generate savings of about $100 million annually. The retailer said it will lay off about 1.4% of its workforce, close some stores and open others, and combine its Midwest and North regions. The layoffs will affect about 2,500 people.
