Roby Brock at Talk Business reporting major layoffs at Dillard's, though the company isn't commenting. With the market up 500 points today, the department store disaster dropped another nickel, to $2.78.
The Dllard's release:
LITTLE ROCK, Ark.--(BUSINESS WIRE)--Dillard’s, Inc. (NYSE: DDS - News) ("Dillard’s") announced a strategic staff reduction of approximately 500 associates as part of its ongoing efforts to reduce operating expenses. The workforce reduction includes approximately 60 associates in Little Rock, Arkansas. Dillard’s employs approximately 60,000 associates nationwide and approximately 2,400 in the Little Rock area.
Presumably none of those affected are named Dillard, as some unhappy investors have wanted. Says here that a Board meeting is scheduled Saturday.