Saks to Close 11 Stores,  700 Jobs Cut
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Retailer Saks Inc.  on Friday said it will close eight of its luxury Saks Fifth Avenue stores and three of its lower-price Off 5th stores, resulting in a loss of 700 jobs at those stores.
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Saks Fifth Avenue Enterprises is closing an 84,000-square foot Saks Fifth Avenue store in the Minneapolis, Minn. Nicollet Mall in January.
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Hanesbrands Inc. HBI.N said on   Wednesday it would close some plants in Mexico and the United   States, cutting more than 2,000 jobs, as part of its plan to   shift production to lower-cost regions.
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Saks Fifth Avenue Enterprises plans to close its Off 5th store in the 100 Oaks Mall in Nashville. The closure is one of three Off 5th locations the company is shuttering, along with eight of its Saks Fifth Avenue stores.
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Hanesbrands Inc. HBI.N said on   Wednesday it would cut costs and streamline its manufacturing   operations by closing two plants in the United States and one   in Mexico, eliminating more than 2,000 jobs.
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Circuit City Stores Inc. CC.N on  Wednesday said it would close 19 superstores, five regional  offices and a distribution center by the end of the month, a  day after the struggling electronics retailer received a $3.25  billion takeover offer.
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Department store operator Saks Inc.  SKS.N on Tuesday posted a surprise loss for its third  quarter, hurt by hurricanes in the southeastern U.S. and  charges for the closure of some stores.
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Company plans to cut up to 7000 jobs this year as it transitions to digital technologies.
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Sprint Nextel, suffering from a steady erosion of customers, said yesterday it is cutting about 7 percent of its workforce and closing 125 retail stores. The company's stock fell sharply, losing a quarter of its value.
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Cost-cutting drive at Cadbury Schweppes will see closure of 10 factories worldwide.
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Nokia, the world's leading maker of mobile phones, has said it would shed some 700 jobs, with Finland taking the brunt of the cuts.
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At least 7,000 jobs are set to go at computer firm Dell after it said it would cut its global workforce by about 10%.
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AT&T Corp. T.N will cut about  7,000 jobs and reduce the value of its assets by $11.4 billion  due to its retreat from traditional consumer telephone  services, the company said on Thursday.
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Dell Inc., which has been pushing its computers into more retail stores, said Wednesday it will close its 140 shopping mall kiosks in the United States.
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Timken Co. TKR.N on Friday said it   would cut about 700 jobs, or 5 percent, of its automotive group   employment, and significantly lowered its earnings outlook. It   cited a fall in North American auto industry production,   sending shares down more than 10 percent.
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Retailer Saks Inc. SKS.N on Friday  said it will close eight of its luxury Saks Fifth Avenue stores  and three of its lower-price Off 5th stores, resulting in a  loss of 700 jobs at those stores.
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Apparel retailer Talbots Inc   said on Friday it will exit its Talbots Kids and Mens lines,  and close 78 U.S. stores by September.