Macy's says that while it plans on opening two new locations, it will also close 14 of its more than 800 stores as more and more of its customers change the way they shop.
Macy's estimates that it will save about $140 million due to the closures, and will invest the money back into the company. Although 2,200 people will be laid off, Macy's says it will hire about the same number of new employees, including 150 people in its San Francisco online division.
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