<<Business confidence hits 20-year high>> Some of the other stories in today's paper:
Woolworth closing 5-and-10 stores
NEW YORK - Woolworth Corp. is closing its five-and-dime stores across the United States, ending a venerable 117-year-old business that has struggled to compete against big discounters, the Wall Street Journal reported Thursday. Over 400 F. W. Woolworth stores with 9,000 employees will be closed.
Bell to cut 2,200 jobs
MONTREAL - Blaming sharply increased competition from Sprint Canada and others, Bell Canada announced yesterday that it will take the hatchet to its work force - again - by chopping at least 2,200 administrative and support jobs before the end of October. With this round, management ranks will take the brunt of the hit, a total of 1,450 jobs "evenly distributed across the company."
Kmart looks at closing 20 stores
BRAMPTON, Ont. - Money-losing Kmart Canada is considering closing as many as 20 of its 123 stores after the next Christmas season. President George Heller, who stepped into the top job five weeks ago after U.S. and Canadian investors bought control of the chain, has put 10 to 20 of the weakest stores on a review list.
I guess these companies aren't as confident. |
