Macy's Is Latest Retailer to Cut Jobs

Macy's is slashing 1,500 jobs, according to reports.
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NEW YORK(

TheStreet

) -- Recent evidence indicates the economy may be slowly improving, but in the world of retail, the news remains the same: job cuts, job cuts, job cuts.

On Thursday,

Macy's

(M) - Get Report

became the latest retailer to eliminate a spate of jobs, according to

Bloomberg

.

The department store is slated to cut 1,500 jobs by March 6,

Bloomberg

wrote, citing two people familiar with the matter.

This is Macy's newest move to pare down costs. Earlier this month, the company said it would shutter five underperforming stores.

But Macy's is far from the only retailer still looking for any way to become more profitable.

Borders

(BGP)

also announced on Thursday that it will

eliminate 164 corporate jobs, or 10% of its corporate staff

.

This follows

Home Depot's

(HD) - Get Report

plans to

lay off 1,000 employees

as its eliminates three pilot programs.

And over the weekend,

Wal-Mart

(WMT) - Get Report

said it would eliminate 11,200 employees from its Sam's Club chain. Previously the discounter announced it would also close 10 underperforming Sam's Club locations.

-- Reported by Jeanine Poggi in New York.

RELATED STORIES:

>>Border's To Cut 10% of Its Corporate Staff

>> Home Depot to Cit 1,000 Workers

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