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COLDWATER CREEK DOWNSIZES HQ STAFF: Coldwater Creek Inc. said Tuesday it has reduced its full-time corporate workforce expenses by 20 percent. The downsizing is part of a restructuring initiative expected to generate $20 million to $25 million in pretax savings in fiscal 2014.
Jill Dean, president and ceo, said the restructuring and cost reduction program is a “necessary step for the long-term success of the company as we strive to right-size out infrastructure to adapt to changes in our business.”
The company just two weeks ago said its board approved the evaluation of “strategic alternatives” for the firm, including — but not limited to — the sale or merger of the company.”