The Macy’s department store logo is seen inside the Macy’s department store in Herald Square on January 19, 2024 in New York City. The Macy’s department store chain announced that it will lay off approximately 2,350 employees, accounting for approximately 3.5% of its total workforce. The company said it would also close five stores to adapt to the era of online shopping. (Photo by Michael M. Santiago/Getty Images)
Michael M. Santiago | Michael M. Santiago Getty Images News | Getty Images
department store macy’s department store The company said its board had unanimously decided to end talks with an activist group that had been seeking to take the retailer private for about $6.9 billion, saying in a statement on Monday that financing and premium issues were insurmountable.
“We concluded that Arkhouse and Brigade’s proposals lacked financing certainty and did not deliver compelling value,” said Paul Varga, Macy’s lead independent director.
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