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Market NewsCommentZale cuts 225 jobs, to close additional stores - media

Zale cuts 225 jobs, to close additional stores - media

Zale Corp., the biggest US jewellery chain, eliminated 20% of the positions at its headquarters, or 225 jobs, and will close more stores to save $65 million annually. The shares rose the most in six weeks, Bloomberg reported. The move to cut 140 jobs and 85 open positions at headquarters in Irving, Texas, will reduce labour costs there by $15 million, or 20%, Zale said in a statement. The retailer will close an additional 23 underperforming stores, bringing the total to 105 this year, the report said.





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