February 5, 2009

Pier 1 to cut staff, may close 125 stores

Filed under: Retail,US — 7macaw @ 10:36 am
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Pier 1 Imports plans to cut about 10 percent of the full time jobs at its Fort Worth, TX headquarters, distribution centers and field administration offices.

The company, which sells home furnishings and gifts, also plans to close a distribution center in Illinois, and it may close up to 125 “underperforming” stores. Pier 1 says it is negotiating with landlords to reduce rental expenses; “early termination” may be necessary if those discussions are unsuccessful.

Source: WFAA TV

February 4, 2009

Liz Claiborne To Layoff 8 Percent Of Workforce

Filed under: Retail,US — 7macaw @ 10:13 am
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Retailer Liz Claiborne announced Tuesday that it will eliminate 725 positions as part of a company-wide cost-cutting measure. That number makes up 8-percent of Claiborne’s US workforce, and affects all levels of the company. The cuts are expected to be completed by the end of the first quarter of 2009.

The layoffs come on top of the company’s previously announced closing of its distribution center in Mount Pocono, Pennsylvania and the suspension of merit pay increases for all employees.

Source: WCPO9

December 31, 2008

Thousands of stores to disappear in 2009

According to CNN Money: “The ugly sales year that was 2008 will haunt U.S. retailers in 2009, with industry experts warning that disastrous holiday sales will spark a domino effect of store closures and bankruptcy filings.”

As many as 14,000 stores are expected to be closed in 2009. Nevada, California and Florida will be especially hard hit.

December 16, 2008

Best Buy plans layoffs

Filed under: Retail,US — DF @ 10:49 am
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According to CNNMoney: “Best Buy Co. announced Tuesday that a worsening sales environment could force it to lay off employees and significantly slow its new store openings in the United States”.

Update (according to Forbes): “The Minneapolis-based retailer said Tuesday that it was offering a voluntary separation package to nearly all of its 4,000 corporate employees.”

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