H&M is closing two of its Manhattan stores by the beginning of next year, according to a layoff notice filed with the state’s Department of Labor.
As first reported on the blog East Side Feed, a total of 62 people employed by H&M will be out of a job by January 19, 2026. The stores that will be affected are located on the Upper East Side and in Lower Manhattan, at 150 E. 86th St. and 18 Church St., respectively; they employ 31 people each.
The closures are unsurprising given that H&M has been paring down its portfolio recently, in what the company describes as a cost-saving measure. The department store chain has shuttered 135 of its stores across the globe this year, which has reportedly boosted its profit margins…