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Photo: Joe Raedle/Getty Images

Macy's will close 125 department stores, one-fifth of the retailer's overall footprint, and ax about 2,000 corporate jobs over the next three years, the Wall Street Journal reports.

Why it matters: Department stores such as Macy's have struggled to keep up with e-commerce giants like Amazon, especially over the recent holiday season. Macy's and other department stores are still recovering from rocky end-of-year sales.

Details: The thousands of job cuts include 10% of corporate and support staff with several offices shuttering. About 400 Macy's storefronts will remain.

  • Its dual headquarters in Cincinnati will close and transfer all HQ roles to New York.
  • Macy's will continue to run the 40 Bloomingdale’s stores it has and about 170 of its Bluemercury beauty chain locations.

What's next: With the closures, Macy's told WSJ it expects to save $1.5 billion annually by the end of 2022, with $600 million in savings for the current fiscal year.

Go deeper: The year of the mall makeover

Go deeper

Scoop: Kaine, Collins pitch Senate colleagues on censuring Trump

Sen. Tim Kaine speaks with Sen. Susan Collins. Photo: Andrew Harnik/AP via Getty Images

Sens. Tim Kaine and Susan Collins are privately pitching their colleagues on a bipartisan resolution censuring former President Trump, three sources familiar with the discussions tell Axios.

Why it matters: Senators are looking for a way to condemn Trump on the record as it becomes increasingly unlikely Democrats will obtain the 17 Republican votes needed to gain a conviction in his second impeachment.

2 hours ago - Politics & Policy

Scoop: Anthony Coley to lead Justice Department public affairs

Photo: Xinhua/Ting Shen via Getty Images

Judge Merrick Garland, President Biden’s nominee for attorney general, has tapped Anthony Coley, an Obama-era Treasury Department official, to serve as a senior adviser and to lead public affairs at the Department of Justice, according to people familiar with the matter.

Why it matters: As the public face of the DOJ, Coley will help explain — and defend — the department's actions, from sensitive cases to prosecutorial decisions, including the investigation into Hunter Biden.

AP: Justice Dept. rescinds "zero tolerance" policy

A young girl waves to onlookers through the fence at the U.S.-Mexico border wall in San Ysidro, California, in Nov. 2018. Photo: Sandy Huffaker/AFP via Getty Images

President Biden's acting Attorney General Monty Wilkinson issued a memo on Tuesday to revoke the Trump administration's "zero tolerance" immigration policy, which separated thousands of migrant children from their families at the U.S.-Mexico border, AP first reported.

Driving the news: A recent report by Justice Department Inspector General Michael Horowitz emphasized the internal chaos at the agency over the implementation of the policy, which resulted in 545 parents separated from their children as of October 2020.