The crumbling economy has taken its toll on one of the largest department store chains. Macy's announced today that it will cut 7,000 jobs, about 4 percent of its work force.
The company's cost-cutting measures include restructuring its retail divisions and reducing planned expenses. Macy's Inc. operates more than 840 department stores -- under Macy's and Bloomingdale's -- across the nation, with corporate offices located in New York and Cincinnati.
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