Cincinnati-based retail giant Macy's Inc. named an eBay executive as its new president late Monday, alongside announcing a restructuring resulting in 100 layoffs.
Macy's named Hal Lawton, formerly senior vice president of eBay North America, as its president, responsible for all aspects of the Macy's brand. He will report directly to CEO Jeff Gennette.
Macy's also announced that it is overhauling its merchandising operations, consolidating three functions – merchandising, planning and private brands – into one, headed by Chief Stores Officer Jeff Kantor, a 35-year veteran of the retailer. The company said the restructuring will result in an annual savings of $30 million, along with a headcount reduction of 100.
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