NC based Family Dollar to cut jobs, close 370 stores
MATTHEWS, N.C. — Family Dollar says it will be cutting jobs and closing about 370 underperforming stores as the company looks for ways to “improve its financial performance,” according to the Associated Press.
Thursday’s announcement came as Family Dollar reported its profit and revenue declined in the second quarter as a result of bad weather.
The store closings and job cuts should lower annual operating expenses by $40-45 million, starting with the third quarter.
The Matthews based chain has more than 8,100 stores in 46 states.
The company did not specify the number of job cuts.