Job Cuts at Macy's Signal Hard Times Ahead for Retailers

January 7, 2016 5:03 AM

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Macy's is slashing jobs, a harbinger of hard times for retailers after a holiday season that saw a noticeable shift to online shopping and away from physical stores.

The nation's largest department store chain, which also operates Bloomingdale's, said late Wednesday it is cutting up to 4,800 jobs and trimming its profit outlook after a miserable holiday season.

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