UPDATE: Chico’s eliminates 240 positions

Published: Updated:

FORT MYERS, Fla.- WINK News has learned Chico’s, based in Fort Myers and founded in Southwest Florida, has eliminated 240 positions.

Company executives say 165 of those were filled positions and 75 were vacant, across all levels of management. The eliminated positions are expected to save about $38 million dollars annually.

In a press release, Chico’s says it is a 12% reduction of the Company’s headquarters and field management employee base.

This comes on the heels of Sycamore Partners dropping its attempt to buy the company.

Chico’s also announced it will open far fewer stores this year than normal, with only about 40 new stores. The company will also close 120 stores over the next three years, including about 35 this year.

 

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