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From: peppe51	1/22/2009 9:24:37 AM
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Brown Shoe to close stores, cut jobs St. Louis Business Journal Brown Shoe Co. said Wednesday it plans to close 30 to 35 Famous Footwear stores in 2009, has cut 59 workers at its Fredericktown, Mo., distribution center and will begin layoffs of other workers two weeks after a voluntary buyout ends. Brown said that in order to reduce payroll expenses, it offered buyouts to its domestic employees, excluding store and hourly distribution center workers. Following the outcome of the voluntary program, the company plans to start involuntary work force reductions within the next two weeks. The number of job cuts won’t be determined until Brown knows the number of employees who accept the voluntary separation packages, the foot retailer said. The company said 59 workers at the Fredericktown facility were told last week that Brown would discontinue wholesale shipment processing operations there. Brown didn’t indicate how many jobs will remain at Fredericktown following the cuts. Brown also eliminated merit increases for its executives in 2009. With the cost cuts, the company said it expects to save about $22 million annually, beginning in fiscal 2009. bizjournals.com

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