 |
|
 
|
|
|
Sign up now for your FREE subscription to the interactive digital magazine.
|
|
Corporate staff also getting trimmed
Ann Taylor (New York) said it is expanding its previously announced restructuring initiatives by closing more stores and further reducing its workforce. The moves are expected to save the company an additional $30 million, on top of the $85 million-$95 million the company said it is saving via previous cuts.
In a statement, the womenswear retailer characterized its latest actions as “further optimization of the company’s real estate portfolio” and “further right-sizing of the company’s corporate and divisional organization.” According to Women’s Wear Daily, that translates into 30 more store closings and the elimination of another 160 jobs, primarily at Taylor's corporate office in Times Square.
The company currently operates about operating 940 stores under the Ann Taylor, LOFT, Ann Taylor Factory, and LOFT Outlet brands
Did you enjoy this article? Click here to subscribe to the magazine.
Hmmm..I am not in favor of this idea of shutting off stores and employers cut of Ann Taylor. Unemployed person are now on the flood hence, doing so the cut offs will just add up to the crisis suffering of many citizens. If there are other options they could go through hopefully they consider on saving these helpless workers. Yochanan Berkowitz