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Macy's reorganizes, cuts 2,500 jobs

Jan. 09, 2014 @ 07:18 AM

CINCINNATI —Macy’s Inc. is cutting 2,500 jobs as part of a reorganization to sustain its prof itability.

The announcement comes on the heels of a strong holiday shopping season for the depart­ment store chain.

Macy’s said Wednesday that it will reassign or transfer some workers and add some posi­tions, leaving its workforce level at about 175,000.

The Cincinnati-based com­pany plans to close five stores and open eight others, leaving it with 844 stores nationwide once the changes are com­plete.

Macy’s says the moves will save it $100 million per year and forecast a 2014 profit above Wall Street’s forecasts.

The news sent its shares up 5.5 percent in after-hours trad­ing.

Imaging supplier set to close facility in West Va.

VALLEY GROVE, W.Va. — A supplier for the imaging indus­try is closing its Ohio County office and laying off about 45 workers.

West Point Products says it will relocate its Valley Grove office to the company’s head­quarters in Washington, Pa.

Media outlets report half of the Valley Grove sales and administrative staff will be offered positions at the head­quarters and the other half will be laid off.

West Point Products Presi­dent Tom Day says operating the two facilities in close prox­imity to one another wasn’t economically feasible.

West Point Products makes replacement laser toner car­tridges and provides related imaging supplies and services. It also has operations in eight other states, Canada and Mexico.

Prices at the gas pump rise a cent in West Va.

CHARLESTON — The price of a gallon of gas is holding steady in West Virginia.

The auto club says gas prices increased by a cent from last week, after a steady rise over the past few weeks. The state’s per-gallon average is $3.40, up nearly a dime over the national average.

The state’s average is a couple pennies lower than the price at the pump one year ago.

Across the state, prices range from a low of $3.27 a gal­lon in Huntington to a high of nearly $3.60 a gallon in Mar­tinsburg.

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