On Wednesday, Macy's announced it will close 68 stores and cut more than 10,000 jobs.
The company said in a press release it expects to lay off 3,900 employees as a result of the stores shuttering and 6,200 more by streamlining its management team. Macy's also issued an earnings report showing comparable stores sales dropped 2.1 percent last quarter, which caused the company's stock to dip nearly 10 percent in after-hours trading Wednesday.
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