Recovery? Reinvention? Yeah Right!
A Tsunami of Store Closings and Layoffs
I’ve been posting and reporting this for months with some choosing to downplay my reports and even going as far as saying the economy is doing much better!
The day of reckoning, some say, has arrived, with one retail watcher predicting a “tsunami” of store closings and lay-offs this year.
http://www.detroitnews.com/article/20140308/BIZ02/303080019
Hewlett-Packard Expands Job Cuts by another 5,000
The computer company will eliminate 5,000 more jobs than originally planned, bringing the total number of layoffs to 34,000 by October. Hewlett-Packard employs thousands of workers here in Michigan.
http://www.bizjournals.com/albany/morning_call/2014/01/hewlett-packard-expands-job-cuts-by.html
RadioShack to Close up to 1,100 U.S. Stores
The Company didn’t immediately identify which stores will close or how many jobs would be affected. A call to the company, based in Fort Worth, Texas, was not returned Tuesday afternoon. RadioShack employs thousands of workers here in Michigan.
Staples to Shutter 225 stores
It’s is unclear how many jobs will be lost or what locations will be shuttered. The company did not immediately return a call from the Associated Press early Thursday. Staples employ thousands of workers here in Michigan.
Denver-based Quiznos to file for Bankruptcy
Quiznos operated about 5,000 restaurants at its peak in 2008, but the count has since dropped to an estimated 2,100 worldwide, including 1,400 in the U.S.
There are numerous Quiznos restaurants located throughout Michigan that employ thousands of workers. Quiznos is the second-largest submarine sandwich shop chain in North America, after Subway.
http://www.denverpost.com/business/ci_25241309/quiznos-preparing-file-bankruptcy-protection
(0)Nuh Uh.
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