NEW YORK, Feb. 6 (UPI) -- Macy's Inc. is planning to close three regional offices, a move intended to save the company $100 million a year beginning in 2009, it was reported Wednesday.
Macy's would close Macy's North, Macy's Midwest and Macy's Northwest and maintain its offices at Macy's East, Macy's South and Macy's West, Women's Wear Daily reported.
The company said it will increase its managerial presence at the local level and work with districts of 10 stores each, the report said.
The move would mean the loss off 150-200 jobs per office closed and savings of about $60 million for 2008.
"Improving sales and earnings performances requires innovation in engaging our customers more effectively in every store, as well as reducing total costs," Chief Executive Officer Terrance J. Lundgren said.
