Macy's announces layoffs

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Updated: 1/08/2014 5:58 pm
RENO, Nev. ( & KRNV) -- Macy's has announced it will lay off 2,500 workers and closing five of its stores. Northern Nevada Macy's won't be affected.

The move comes as part of a bigger shake-up at the department store operator. The company, which also operates Bloomingdale's, estimates it still employs roughly 175,000 associates in 844 stores.

Investors appeared encouraged by the move, which officials say will save the company $100 million per year.

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