Macy's shares tumbled more than 9 percent after the market's closed Wednesday after it posted disappointing holiday sales and released the locations of 68 of the 100 stores it plans to close as it looks to turn around its performance. Macy's expects to lay off as many as 10,000 employees, but some could receive positions at other stores. The retailer said it would eliminate about 3,900 jobs with the store closings, which are part of a plan announced last summer. CEO Terry Lundgren. Furthermore, through restructuring its business and selling properties, Macy's will eliminate 6,200 jobs. Macy's expects the restructuring to save it about $550 million a year starting in 2017.