Struggling department-store retailer Macy's ( M ) plans to close 125 stores this year according to a published report in The Wall Street Journal Tuesday. Local media around the country reported last month that Macy's would be shuttering some locations. But the company has said it wouldn't publicly reveal the figure until a meeting with investors Wednesday. Macy's has staggered for several years, as customers shun its stores in favor of online shopping. The 125 units to be eliminated represent about 24% of Macy's 525 total. It's also axing about 2,000 corporate jobs, 10% of the total. And it's abandoning several offices, including a headquarters in Cincinnati, according to The Journal. Now Macy's sole headquarters will be in New York. It's closing its technology offices in San Francisco, CNBC reported. "Our goal is to reclaim and revitalize what a department store should be," Macy's CEO Jeff Gennette told The Journal.