COLDWATER CREEK DOWNSIZES HQ STAFF: Coldwater Creek Inc. said Tuesday it has reduced its full-time corporate workforce expenses by 20 percent. The downsizing is part of a restructuring initiative expected to generate $20 million to $25 million in pretax savings in fiscal 2014.
Jill Dean, president and ceo, said the restructuring and cost reduction program is a “necessary step for the long-term success of the company as we strive to right-size out infrastructure to adapt to changes in our business.”
This story first appeared in the October 30, 2013 issue of WWD. Subscribe Today.
The company just two weeks ago said its board approved the evaluation of “strategic alternatives” for the firm, including — but not limited to — the sale or merger of the company.”