BANGOR, Maine (NEWS CENTER) — Macy's announced Wednesday the closing of 68 of its 730 department stores, including one in Bangor.

The Bangor Mall location has been in business since 1998.

According to Macy's, the closures will save the company around $550 million, enabling it to invest an additional $250 million in its digital business, store-related growth strategies, and other sectors.

Macy's states that the 3,900 associates displaced by the closings "may" be offered positions in nearby stores. The Maine Mall in South Portland is its closest location, 120 miles away.

A total of 65 associates will be laid off in Bangor.

Eligible full-time and part-time associates who are affected by the closings will be offered severance benefits.

"We are closing locations that are unproductive or are no longer robust shopping destinations due to changes in the local retail shopping landscape, said Macy's Chairman and CEO Terry J. Lundgren. "These are never easy decisions, and we are committed to treating associates affected by these closings with respect and transparency.

Final clearance sales for the stores closing in 2017, according to Macy's, will begin Monday, Jan. 9, and run for about eight to 12 weeks.

Bangor Mayor Joe Baldacci slammed the decision Wednesday night in a Facebook post. "Macy's should be ashamed," Baldacci wrote. "Not only were most of these stores including Bangor still profitable their press release below admits that new stores will be put up in Kuwait and Abu Dhabi. Our corporate tax laws need to be changed to stop this shipment of jobs and investment overseas."