Macy's cuts 100 jobs, shakes up merchandising efforts

No Cincinnati jobs impact
Macy's cuts 100 jobs, shakes up merchandising efforts
Posted at 8:18 PM, Aug 21, 2017
and last updated 2017-08-22 06:58:38-04

Macy's Inc. announced a management shakeup Monday, with the hiring of an eBay executive as president and the elimination of 100 jobs by consolidating the company's merchandising, planning and private brands functions.

When he joins the company as president Sept. 8, Hal Lawton will have broad responsibilities over all aspects of Macy's brand, including merchandising, marketing, stores, operations, technology and customer analytics, Macy's said in a press release.

Macy's spokeswoman Andrea Schwartz said no Cincinnati jobs will be impacted. However, these are high-ranking positions, based on Macy's projection that it will saving $30 million annually -- $300,000 per job -- with the reductions.

Lawton will report to Macy's CEO Jeff Gennette, who is shedding the president's title to make way for him. Lawton worked for Home Depot and McKinsey & Co. before becoming a senior vice president at eBay.

"Hal Lawton has deep expertise at the intersection of retail and technology, a diverse set of business experiences that give him a unique perspective, and a track record of successfully driving a change agenda at scale. I'm thrilled that he has chosen to join Macy's," Gennette said. "This is a key step as we look to further transform the business and work through the volatility of today's retail landscape."

The restructuring will mean the departure of Macy's chief merchandising officer Tim Baxter, whose duties will be taken over by current chief stores and human resources officer Jeff Kantor.

"Macy's has long been known for innovation and excellence in merchandising," Gennette said. "The changes we are making today maintain our core merchandising skills while massively simplifying our structure and processes for greater speed and flexibility. We are also further strengthening our consumer insights and data analytics capabilities so we can make better decisions faster, balancing the art and science of retail."