Macy's is cutting 1,000 jobs as it closes Connecticut facilities and modernizes its supply chain. The iconic department store chain has been in a slow structural decline for over a decade, and 2026's cuts are part of a longer transformation toward smaller-format stores and digital-first operations.
Retail layoffs in 2026 span the entire spectrum from luxury (Saks, in Chapter 11) to mass market (Target, Home Depot). Macy's sits in the middle, trying to reinvent itself while managing a physical footprint that was built for a different era of shopping.