Macy's closing Metcalf South store as part of restructuring - KCTV5

Macy's closing Metcalf South store as part of restructuring

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OVERLAND PARK, KS (KCTV/AP) -

Macy's is eliminating 2,500 jobs and closing five stores including one in Overland Park as part of a company restructuring.

The Metcalf South Shopping Center location, which first opened its doors in 1967 at Metcalf Avenue and 95th Street, will be closed along with the Jamestown Mall store in Florissant, MO, which first opened in 1994.

There are 88 employees at the Metcalf South location. Those employees could be provided the opportunity to work at other Macy's locations in the Kansas City area. 

The company said it will lay off 2,500 employees and provide severance to them. Others will get new duties or be transferred, and some open positions will not be filled.

Macy's said Wednesday that it will reassign or transfer some workers and add some positions, leaving its workforce level at about 175,000.

The Cincinnati-based company plans to close five stores and open eight others, leaving it with 844 stores in 45 states and Puerto Rico once the changes are complete. Most of the new stores are planned for warmer-weather climates including Florida.

Macy's says the moves will save it $100 million per year and forecast a 2014 profit above Wall Street's forecasts.

The news sent its shares up 5.5 percent in after-hours trading.

The other stores closing are in Mesa, AZ, Irondequoit, NY, and Murray, UT. All but the Utah store will see clearance sales start on Monday. The stores will be then closed in 10 to 11 weeks.

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KCTV5's Jonathan Carter contributed to this report.

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