Price Cut

Macy’s to Lay Off 2,500

In a series of moves the company expects will save it $100 million a year, Macy’s will lay off 2,500 workers and close five stores. In the wake of the cuts, Macy’s shares went up more than 6 percent in after-hours trading. Following the changes, Macy’s, which also operates Bloomingdale’s, will employ about 170,000 associates in 844 stores.