Dollar Tree Cutting 370 Jobs
Dollar Tree said last week that it's cutting 370 jobs at the former Matthews, N.C.-based corporate headquarters of Family Dollar Stores, the rival discount retailer it acquired last year. Dollar Tree kept a Family Dollar support center in Matthews after closing the $9.1 billion deal. The company said the layoffs were part of an effort to eliminate redundancies in its support functions, but that they do not affect individual store operations and merchandising functions.
Total Retail's Take: While I'm sure the news is difficult for Dollar Tree to deliver and the former Family Dollar employees to take, it's likely not a surprise to any party. When companies merge, layoffs are usually part of the deal, especially when there are redundancies in job functions. Furthermore, Dollar Tree previously said it planned to reduce the combined company’s annual expenses by $300 million over three years. That was an omen that job cuts were on the way.