Originally published February 6, 2008 at 12:00 AM | Page modified February 6, 2008 at 4:46 PM
Macy's to close Seattle regional office, cut 750 jobs
Cincinnati-based Macy's, which is struggling from what it calls a challenging economic environment, said today it is closing its Seattle-based...
Seattle Times business reporter
Cincinnati-based Macy's, which is struggling from what it calls a challenging economic environment, said today it is closing its Seattle-based Northwest management office as part of a massive shake-up of its retail divisions.
About 750 employees in Seattle will lose their jobs as the Northwest office is folded into Macy's San Francisco-based West division.
Macy's also is consolidating its Minneapolis-based North organization into its New York-based East division, and its St. Louis-based Midwest organization into its Atlanta-based South division. About 950 jobs in Minneapolis and 850 jobs in St. Louis will be eliminated.
Laid-off employees will receive undisclosed severance benefits and help finding other jobs, Macy's said.
The reorganization, which is expected to be completed in the second quarter, will allow Macy's to reduce its overhead costs by about $60 million this year and $100 million in 2009, the company said. No store closures are planned.
Citing an "uncertain macroeconomic environment," Macy's said sales at its stores open at least a year fell 7.1 percent in January, worse than what Wall Street had been expecting.
Jeffrey Gennette, 46, currently chairman and chief executive of the Northwest office, will move to San Francisco and take over as chairman and chief executive of the West division, replacing Robert Mettler, 67, who has postponed his July retirement to oversee special projects. Gennette moved to Seattle in February 2006 after serving two years as executive vice president at Macy's Central office in Atlanta.
Robert Harrison, currently president and chief operating officer of Macy's Northwest office, will remain in Seattle to see it through the transition. Ultimately, he'll be reassigned to another position within the company, Macy's said.
The new Macy's West division will cover 257 stores in 13 Western states and Guam. All told, they produced 2007 sales of about $7 billion.
The company also announced a new localization initiative called "My Macy's," aimed at making sure core customers find the merchandise they want in the sizes they need.
Amy Martinez: 206-464-2923 or amartinez@seattletimes.com
Copyright © 2008 The Seattle Times Company
The local, public face of Chase, Phyllis Campbell is trading on trust
10 investing missteps to avoid
Sunday Buzz: Boeing fighter to run on biofuel; Mastro bankruptcy trustee keeps job
On the Economy: Washington state has to play the add-value card, not low-cost-leader ace

Mourners gather at KeyArena for slain officer's memorial
Mourners gathered at KeyArena for the memorial service of Seattle police Officer Timothy Brenton on November 6, 2009.
nwjobs

Post a comment

Michelle Goodman blogs about work/life balance.
How to tell your office you're gravely ill
Post a comment
nwautos

Choosing a new sedan? Weigh the impact of your choice on your wallet and on the planet.
Post a comment
- Flags were key link to cop slaying, bombings
- Suspect shot as city mourns slain officer
- Briefs | Soccer: New Mexico suspends hair-pulling player Elizabeth Lambert
- Bombs, guns found at home of suspect in Officer Brenton's slaying
- Huskies suffer another heartbreaking loss to UCLA
- McGinn pulling away as late ballots come in
- Using anti-shooter tactics, civilian Army police officer brought down gunman
- How an underdog named Mike McGinn took City Hall
- 3 Cascade Mountain passes close due to snow; more rain, wind expected Sunday
- Heavy snow in Cascades shuts down roads
- UCLA game thread
940 - Weapons, bomb-making materials found in suspect's apartment
334 - Troubling portrait emerges of Fort Hood suspect
293 - U.S. House passes health plan
217 - Decision day for health care in the House
201 - Bombs, guns found at home of suspect in Officer Brenton's slaying
141 - Huskies suffer another heartbreaking loss to UCLA
101 - Referendum 71 show's Washington's strategy for marriage equality is working
95 - Grading the game
86 - How an underdog named Mike McGinn took City Hall
55
- Suspect shot as city mourns slain officer
- Flags were key link to cop slaying, bombings
- 10 ways to take control of your health
- Danny Westneat | Lee the Horse Logger found slow wagon shrank tumor
- The birth of 'Grunge,' in photos by Michael Lavine
- 10 investing missteps to avoid
- Bombs, guns found at home of suspect in Officer Brenton's slaying
- Guest columnist | Cut the South Carolina jokes, Seattle. Get ready to compete
- How do innovators think?
- Consortium on verge of owning Eastside railway land





