Macy's To Lay Off Over 1,000 Workers, Close Connecticut Facilities: Report - Macy's (NYSE:M)

Macy’s Inc. (NYSE:M) is reportedly set towards the closure of several facilities in Connecticut, leading to the layoff of over 1,000 employees.

Macy's to Close Two Connecticut Sites

Macy’s is shutting down its operations in South Windsor and Cheshire, Connecticut, as part of its efforts to streamline its operations, reported USA Today on Wednesday, citing an online notice filed with the state's Department of Labor earlier this month. The closures are expected to commence in March, with the majority of the layoffs occurring in the Cheshire location.

The layoffs impact 485 fulfillment associates, 193 power equipment operators, and 72 inventory control and quality assurance staff. Macy's said it will inform affected workers about possible transfer opportunities to open roles at nearby locations.

The site will permanently close on March 14, 2026, resulting in 57 layoffs, including 20 warehouse associates and other operational staff.

Macy’s did not immediately respond to Benzinga’s request for comment.

Macy's Closures Reflect Retail Shift

The decision to close facilities and lay off employees comes amid a challenging period for Macy’s. The retail giant has been grappling with the changing consumer landscape and the rise of e-commerce.

The company delivered stronger sales, profit, and comparable growth for the third quarter. Strong performances at Bloomingdale's and Bluemercury and an increased full-year outlook signaled management's confidence. However, Macy’s CEO Tony Spring warned about “choiceful customers” creating holiday uncertainty.

The closure of stores and facilities, along with the layoffs, could be seen as part of Macy’s “Bold New Chapter” turnaround plan, which reflects its efforts to adapt to the evolving retail environment and improve its financial performance. Earlier this month, Spring stated that the company is reassessing its portfolio, closing underperforming stores, and streamlining operations as part of a careful investment strategy.

Benzinga's Edge Rankings place Macy’s in the 87th percentile for quality and the 90th percentile for momentum, reflecting its strong performance in both areas. Benzinga’s screener allows you to compare Macy’s performance with its peers.

Price Action: Over the past year, Macy’s stock surged 45.27%, as per data from Benzinga Pro. On Wednesday, the stock edged 0.42% lower to $21.21.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Shutterstock

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