Multiple media outlets are reporting that Macy's is closing its headquarters here and moving operations to New York City. It's had two headquarters since the merger of Macy's and Federated department stores 15 years ago.
We've learned employees in the Queen City got the news Tuesday afternoon. No timeline has been given.
The Business Courier reports that 500 jobs will be affected. It's unknown at this time if they'll be lost or relocated.
According the Business Courier, Macy's had seven retail locations at the height of its operations in Cincinnati. Macy's already announced the closing of its retail location in Northgate Mall in March, laying off another 139 employees.
The department store conglomerate reported nearly 25 billion dollars in revenue in 2018.
Cincinnati Mayor John Cranley has released a statement:
“We appreciate the hard work Macy’s local employees have put in over the last several years and hope those employees will stay in our community. Our City’s renaissance has persisted and continues today with our metro leading the state in job gains over the last decade and adding 24,000 jobs in 2019—more than any other Ohio metro. Functionally, Macy’s stopped using Cincinnati as their headquarters ten years ago. This departure, while disappointing, is indicative of a changing retail industry and how they must adapt. It will not stop our City’s continued growth."