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Cost reduction

Business
More Than 60 Rite Aid Stores Now Scheduled For Closure More Than 60 Rite Aid Stores Now Scheduled For Closure
More Than 60 Rite Aid Stores Now Scheduled For Closure Rite Aid has announced plans to close 63 of its stores. The closures began in November, and associates impacted by the closures are being offered opportunities to transfer to other stores, the company said in a report about its fiscal third-quarter results on Tuesday, Dec. 21. “Today, we also announced the first phase of a store closure program to reduce costs, drive improved profitability and ensure that we have a healthy foundation to grow from, with the right stores in the right locations, for the communities we serve and for our business," said Heyward Donigan, the president and ch…

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by Nicole Valinote
Business
COVID-19: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company' COVID-19: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company'
Covid-19: Macy's Cuts 3.9K Corporate, Management Jobs; CEO Says 'We Will Be A Smaller Company' Macy's is eliminating 3,900 corporate and management positions, about three percent of its total workforce, in a move to cut costs amid a steep decline in revenue during the novel coronavirus (COVID-19) pandemic. It's also reducing staffing across its stores, supply chain and customer support network, the company announced Thursday, June 25. Macy's says it will adjust staffing as sales rebound. “COVID-19 has significantly impacted our business. While the re-opening of our stores is going well, we do anticipate a gradual recovery of business, and we are taking action to align our cos…

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by Joe Lombardi