American department store chain Macy's has announced it will cut more than 10,000 jobs after a weak holiday season.

Macy's, one of the main anchors at the Lakeland Square Mall, is jumping ship.

The retailer said the closings planned in markets if Florida, California, New York, Pennsylvania and other states are part of about 100 closings it announced in August. Macy's comparable sales fell 2.1 percent in November and December, which was at the low-end of its previous guidance.

Overseas, the company plans to open stores in Abu Dhabi and Kuwait.

In a statement, the firm said the measures would lead to more than 10,000 jobs being cut and create annual savings of around $550m (£446m).

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Business Insider reported employees learned of the additional store closings Wednesday.

The two MA stores are among 68 the department store company is closing nationwide in a cost-cutting measure created to save about $550 million a year. "We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape, as well as monetizing locations with highly valued real estate", he said.

Also on Wednesday, Kohl's Corp. announced that its stores also had disappointing holiday sales figures. The company says it will save $550 million through this cost cutting, and it plans to reinvest some of that in its digital shopping business.

Terry J. Lundgren, Macy's chairman and chief executive officer, said: "We continue to experience declining traffic in our stores where the majority of our business is still transacted".


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