TJX Closes A.J. Wright Division
NEW YORK (
) --
TJX
(TJX) - Get Report
is consolidating its A.J. Wright business, a move that will result in 4,400 job cuts.
The off-price retailer said on Friday that it will convert 91 A.J. Wright stores into T.J. Maxx, Marshalls or HomeGoods stores and close the remaining 71 stores, two distribution centers and its home office.
TJX expects the consolidation to improve profitability and focus on its other divisions.
A majority of the layoffs are part-time employees. These associates will have the opportunity to be compensated at least through the holiday season and most will remain on board until January.
--Written by Jeanine Poggi in New York.
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