T.J. Maxx parent to cut 4,400 jobs

By Aaron Smith, staff writer

NEW YORK (CNNMoney.com) -- Retailer TJX Cos. said Friday that it is eliminating 4,400 jobs "to improve the overall profitability of the company."

TJX (TJX, Fortune 500), which owns T.J. Maxx, Marshalls and HomeGoods stores, said more than half of the jobs heading for the chopping block are full time.

The company said the workers will hold their jobs through the holiday season and into late January. It plans to offer severance and other assistance to the workers.

"While I believe this move makes us a much stronger company and will benefit TJX in both the near-term and long-term, it was not an easy decision as many positions will be eliminated and it will be difficult for our affected associates," said Chief Executive Carol Meyrowitz, in a press release.

The Framingham, Mass.-based company also said it is converting 91 A.J. Wright stores into T.J. Maxx, Marshalls or HomeGoods stores. TJX will close the remaining 71 stores as well as A.J. Wright's two distribution centers and its home office, the company said. To top of page

Index Last Change % Change
Dow 24,946.51 72.85 0.29%
Nasdaq 7,481.99 0.25 0.00%
S&P 500 2,752.01 4.68 0.17%
Treasuries 2.85 0.00 0.00%
Data as of 3:18am ET
Company Price Change % Change
General Electric Co 14.31 -0.05 -0.35%
Bank of America Corp... 32.17 0.07 0.22%
Ford Motor Co 11.15 0.08 0.72%
Micron Technology In... 60.58 1.74 2.96%
Cisco Systems Inc 45.01 -0.32 -0.71%
Data as of Mar 16


Everything seems to move faster in the Trump era, perhaps even the deliberate Federal Reserve. More

"It's like competing in an Olympic race wearing lead shoes," Elon Musk, referring to trade rules with China, tweeted to President Donald Trump. More

Good news for procrastinators: You get two extra days to file your federal income taxes. April 15 falls on a weekend and April 16 is a public holiday in the District of Columbia. More