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Macy’s has announced that they are officially closing it’s Cincinnati headquarters.

The Cincinnati office is among five other corporate headquarters including two Ohio locations, San Fransico and Florida.

This is a result of the companies three-year plan to help stabilize its profits in the ever-changing retail business.

Their $5 million valued company has fallen more than 35 percent over the past year in the stock market.

The New York headquarters will be the main headquarters for the entire company. As well as, 125 stores will be closed over the next 3 years plus the loss of 2,000 corporate jobs.

Macy’s stopped using the Cincinnati office as a functional headquarters 10 years ago.

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