Macy's Joins The Job-Cutting Parade - 01/09/09

Macy’s announced plans Thursday to shutter 11 stores as it deals with economic pressure. The company plans to close stores in Los Angeles, Hawaii, Minnesota, and other locations. Nine hundred sixty employees will lose their jobs because of the closures, but some could find positions at other locations. The company saw a 4 percent decline in sales during the month of December.