Zales to Eliminate 245 Associates

The company decided to slash $175 million from its budget through cost and inventory reductions. Going into the company’s second phase of cost restructuring, Zales will be cutting 245 associate positions.

Of those jobs cut, 75 were already unfilled, open positions.

Dallas-based Zales posted a loss of $23.6 million, down from a profit of $60.8 million during the same quarter last year.

Sales during the quarter declined 17.9%.

The company expects to save about $34 million in expenses through fiscal 2010 by closing 115 under-performing stores.

Zale Corporation is the second largest specialty retailer of fine jewelry in North America, operating 2,203 retail locations throughout the US, Canada, and Puerto Rico.

Career Connect (From our other career blogs):

Employment News (Sponsored by EmploymentSpectator)
Following Your Passion-Literally! (Sponsored by iamnotastalker.com)
Job Search Advice from the CEO of TravelingCrossing (Sponsored by aharrisonbarnes.com)
Layoff News (Sponsored by LayOffWatch)

Testimonial of the Week

EmploymentCrossing was helpful in getting me a job. Interview calls started flowing in from day one and I got my dream offer soon after.

Jeremy E Greenville, NC

+ Read More Testimonial

Only TravelingCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.

We have more jobs than any other job board.
We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
We collect jobs from more than 4,429,376 websites and post them on our site.
We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.