logo
Share SHARE
FONT-SIZE Plus   Neg

Stage Stores To Consolidate South Hill Office Operations; To Eliminate 180 Jobs

Stage Stores Inc. (SSI) announced Monday that it will consolidate its South Hill, Virginia regional operations into its Houston, Texas corporate headquarters.

Functions being consolidated into the company's Houston headquarters include merchandising, planning and allocation, human resources and other services currently supporting 331 stores located in 24 Mid Atlantic, Southeastern, Midwestern and Northeastern states.

The company expects that the consolidation and subsequent office closure will be completed by the middle of 2013 and will result in the elimination of approximately 180 South Hill-based positions. The company said about 75 new positions will be added at the Company's Houston headquarters.

The company noted that the consolidation will have no impact on the operations of its South Hill distribution center. A number of employees will be offered the opportunity to relocate to other company locations, including the Houston headquarters. Those not relocating will receive severance packages, outplacement counseling services and other benefits, the company said.

The current estimate of costs associated with the consolidation is approximately $20 million, with approximately $4 million incurred in 2012 and the balance anticipated to be incurred in 2013. The company expects that this consolidation will result in annual cost savings of approximately $5 million.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
KMG Chemicals Inc. (KMG) is likely to beat earnings per share or EPS estimates, when it reports first quarter results on December 11, after the bell. First quarter results of KMG are expected to benefit from the impact of Irma and Harvey, and early October fires in the West. Sysco Corp. is looking ahead to own 50 fully electric semi tracks to be launched by Tesla. The new electric tractors could run 500 miles on a single charging. The order from the food service distribution giant that owns more than 7000 trucks is worth up to $10 million. Patreon, the crowdfunding platform for artists, announced Wednesday a change in its payment structure that it says will help creators keep more money. Meanwhile, many are concerned that the change may discourage their patrons from pledging.
comments powered by Disqus
Follow RTT