Macy's, a major retail chain, plans to terminate 2,350 employees and shut down five stores as part of a cost reduction strategy.

The strategy involves terminating 13% of the corporate personnel and reallocating the resulting funds towards enhancing the customers' shopping experience.

Macy's plans to enhance its supply chain through increased automation and outsourcing of certain roles.

New investments will involve increasing the number of visual display managers and upgrading digital features to enhance online shopping.

The company is under pressure from investors who have initiated a $5.8 billion acquisition offer for the department store chain.

The company is also acquiring Bloomingdale's department stores and Bluemercury beauty and skin-care shops.

To influence consumers, the company wants to spend more on store aesthetics and online shopping capabilities.

The company is also adopting technological advancements in its supply chain by implementing automation for certain positions and outsourcing others.

Macy's plans to provide more details on its new strategy under Tony Spring's leadership in the coming weeks.