Zales, Jared’s, and Kay Jewelers Ask Employees to Quit
With the epidemic of brick and mortar stores closing like Payless Shoes, Toys R Us, and Gymboree - everyone in retail must be sweating bullets. Who knows when the next well known and established chain will come crumbling down? Thankfully, not all retail operations are pushing on in the dark, just hoping to make it. Signet, the parent company to Zales, Jared's, Kay Jewelers and Piercing Pagoda, is taking a proactive approach to sagging sales numbers. Instead of hoping sales will pick up and provide the momentum (and money) to keep their operation running, they are cutting costs every way they can.
3,400 corporate employees across the country were given the option of ending their employment with the company yesterday. Signet offered these workers a "voluntary separation" package, including severance pay, in order to reduce costs. This move is part of a larger plan to get the company "back on track," but according to the Dallas Morning News - there may still be staffing cuts on the way. Signet is in the 2nd year of a 3 year plan to make the company profitable once again, and keep it's 3,500 U.S. stores open.
No word on how this will affect the stores in Mall St. Vincent in Shreveport, and Pierre Bossier Mall in Bossier City.