USA: Elder-Beerman Continues To Cut Costs
Independent department store chain The Elder-Beerman Stores Corp axed 67 jobs in April and moved 38 employees to other open positions within the organisation in an attempt to cut costs. This streamlining, which had been announced earlier, will reduce the company's expenses by approximately $3.6 million annually. A severance charge of around $577,000 will be taken in the first quarter ending 4 May 2002.
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