Federated Department Stores has announced it is going to cut about 1,700 jobs as part of its restructuring plan for St. Louis-based May Department Stores. The layoffs at May’s headquarters will begin on March 1st, with the operation expected to be completed by the end of next year. Federated hopes to find new positions for many of the 1,700 May workers whose jobs are being eliminated. Federated plans to open a new divisional headquarters in St. Louis – to be called Macy’s Midwest. Some of the laid off employees will likely find work there.
