Macy's reorganizes, cuts 2,500 jobs
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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