Williams-Sonoma Inc. (San Francisco) has announced plans to cut 18 percent of its workforce.
By the end of the month, the specialty retailer will have cut 1400 positions and shut down a call center in Pennsylvania and a distribution facility in Tennessee.
The company, which is also parent of the Pottery Barn chain, said the series of actions would reduce costs by about $75 million in fiscal 2009.
“All of these initiatives will allow us to maintain our financial flexibility while at the same time focus on those strategic objectives that will enhance our competitive positioning when these macro head winds subside,” said ceo Howard Lester.
The high-end home furnishings market has been particularly hard hit by the recession. This month, Williams-Sonoma reported a 24.2 percent decrease in 2008 same-store holiday sales.