Macy's layoffs, on the record
Every job cut, severance charge and restructuring Macy's reported in its annual reports, 2024 to 2026, quoted from the filings.
Job cuts, severance and restructuring
Our summaryCompany announced its new strategy, A Bold New Chapter, which relates to the impairment, restructuring and other costs recognized in fiscal 2023.
Word for word“On February 27, 2024, the Company announced its new strategy - A Bold New Chapter, which is designed to return the Company to enterprise growth, unlock shareholder value, and better serve its customers.” 10-K for 2024
Our summaryCompany recorded a $55 million restructuring charge in fiscal 2023, mainly for cash employee termination and severance costs, with $9 million funded in fiscal 2023 and the rest expected in the first half of fiscal 2024.
Word for word“The $ 55 million of restructuring charges recognized in fiscal 2023 consisted primarily of cash expenditures related to employee termination and severance charges, $ 9 million of which was funded in fiscal 2023 and the remainder is expected to be funded in the first half fiscal 2024.” 10-K for 2024
Our summaryCompany planned closure of approximately 150 locations over the next three years, with a non-cash asset impairment charge recognized in fiscal 2023.
Word for word“The $ 957 million non-cash asset impairment charge recognized in fiscal 2023 primarily related to approximately 150 locations planned for closure over the next three years , which is inclusive of both leased and owned locations, and the remaining amount is associated with corporate and other assets.” 10-K for 2024
Our summaryResidual restructuring accruals from the earlier Polaris strategy were fully paid out by the end of fiscal 2022.
Word for word“On February 4, 2020, the Company announced its Polaris strategy, which was developed in 2019 and refined in 2020.” 10-K for 2024
Our summaryAnnounced the A Bold New Chapter strategy, which led to store closures and restructuring actions.
Word for word“On February 27, 2024, the Company announced its new strategy, A Bold New Chapter, which is designed to return the Company to enterprise growth, unlock shareholder value, and better serve its customers.” 10-K for 2025
Our summaryRecorded non-cash asset impairment charges tied to approximately 150 store locations planned for closure under the A Bold New Chapter strategy.
Word for word“The $ 88 million and $ 957 million non-cash asset impairment charge recognized in fiscal 2024 and 2023, respectively, primarily related to approximately 150 locations planned for closure as part of the A Bold New Chapter strategy, which is inclusive of both leased and owned locations, and the remaining amount is associated with corporate and other assets.” 10-K for 2025
Our summaryRecorded restructuring charges, mostly cash costs for employee termination and severance, under the A Bold New Chapter actions.
Word for word“The primary costs consist of $88 million and $957 million non-cash asset impairment charges and $44 million and $55 million of restructuring charges recognized in 2024 and 2023, respectively.” 10-K for 2025
Our summaryMacy's recorded restructuring charges, mainly employee termination and severance costs, tied to its Bold New Chapter strategy in fiscal 2025 and 2024.
Word for word“The primary costs consist of $160 million and $88 million non-cash asset impairment charges and $47 million and $44 million of restructuring charges recognized in 2025 and 2024, respectively.” 10-K for 2026
Our summaryThe company announced its Bold New Chapter strategy, which drives its impairment, restructuring and other costs across fiscal 2023 to 2025.
Word for word“On February 27, 2024, the Company announced its new strategy, Bold New Chapter, which is designed to return the Company to enterprise growth, unlock shareholder value and better serve its customers.” 10-K for 2026
| Fiscal year ended | Severance costs | Restructuring charges | Restructuring costs incurred | Cash paid for restructuring |
|---|---|---|---|---|
| 2017-01-28 | $168 million | $168 million | $46 million | — |
| 2018-02-03 | $120 million | $80 million | −$9 million | — |
| 2019-02-02 | — | $80 million | −$8 million | — |
| 2020-02-01 | — | $123 million | $34 million | — |
| 2021-01-30 | — | $224 million | $75 million | — |
| 2022-01-29 | — | $3 million | $21 million | — |
| 2023-01-28 | — | $5 million | $21 million | — |
| 2024-02-03 | — | $55 million | $15 million | $9 million |
| 2025-02-01 | — | $44 million | $39 million | — |
| 2026-01-31 | — | $47 million | $23 million | — |
Macy's filed 2 restructuring notices (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Macy's’s annual reports (10-K for 2026, 10-K for 2025, 10-K for 2024) and the financial data it files with the SEC, as of 2026-03-27. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.