Jim Cramer on Macy's Restructuring Plans - TheStreet

Jim Cramer: Has the Death Star That Is Amazon Defeated Macy's?

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Macy's plans to shut around 125 stores.

The 125 units to be eliminated represent about 24% of Macy’s 525 total. It’s also axing about 2,000 corporate jobs, 10% of the total.

“Our goal is to reclaim and revitalize what a department store should be,” Macy’s CEO Jeff Gennette told The Journal. “Department stores are still vital if they are done right. There is viability to having many categories and brands under one roof.”

Jim Cramer weighed in on Macy's plan. 

Watch the full video above for more.

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