Pier 1 Imports cuts 175 jobs

by PegNews wire

FORT WORTH — Pier 1 Imports has cut 175 jobs -- 100 at its headquarters and 75 at field offices across the country -- as new Chief Executive Alex Smith tries to reverse two years of losses and bring the chain back to profitability with a leaner staff.

"We regret that the reduction in work force is a necessary step toward achieving our objectives, and we are assisting those individuals who have been affected by today's events," Smith said in a statement released Thursday to announce the cuts.

All of the job eliminations were completed Thursday, leaving the company's headquarters in Fort Worth with about 650 workers, Pier 1 spokeswoman Misty Otto said.

Chicago-based outplacement firm Challenger, Gray & Christmas is working with Pier 1 to help the laid-off workers find new jobs.

Source: Pier 1

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