Macy's reveals upcoming store closures and a plan to cut 5,000 jobs

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(CNN) -- Retail giant Macy's will cut 5,000 jobs and close seven more stores in Florida, California, Indiana, Michigan, Ohio and Vermont.

The moves are part of a plan announced in August 2016 to close 100 stores.

Altogether, Macy's has now revealed 81 of the 100 locations.

Macy's is one of many traditional retail chains struggling for stability amid stiff competition from alternative retail chains and online retailers.

Macy's will likely start liquidation sales on January 8th.

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