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

January 22, 2009

Williams-Sonoma Will Cut 1,400 Jobs

Filed under: Retail,US — 7macaw @ 6:00 pm
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Williams-Sonoma Inc., the U.S. gourmet-cookware retailer, will cut 18 percent of its full-time workforce after holiday sales slumped and said its fourth-quarter profit would fall to the low range of its forecast.

The San Francisco-based company said in a statement that it will eliminate 1,400 jobs by the end of the month as part of a plan to trim pretax costs by $75 million in 2009.

Source: Bloomberg

January 16, 2009

Saks, Neiman Marcus to lay off hundreds.

Two of the nation’s premier luxury department stores are going to cut hundreds of jobs as they struggle to endure a freeze in consumer spending.

Saks Inc. (NYSE: SKS) said late Thursday that it was cutting 1,100 in-store and corporate support jobs, or about 9 percent of its work force, eliminating merit-based wage increases and suspending matching contributions to employee 401(k) plans for at least a year. On Wednesday, Neiman Marcus said it was cutting 375 jobs, or 2.3 percent of its work force.

Source: NY Times

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