Talbots to close 20 stores
Thursday, February 5, 2009
(Updated 2:57 pm)
Retailer The Talbots Inc. will cut 370 jobs, or about 17 percent of its work force, as part of a new program to reduce expenses by $150 million.
The company also said it plans to close about 20 underperforming Talbots stores in fiscal 2009. The company did not state in a news release which stores would close. Talbots has two stores in Greensboro and one in High Point, according to its Web site.
Talbots, based in Hingham, Mass., said the job cuts would save $22 million. The company also will stop matching contributions to its 401(k) plan.
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