Dollar Tree cuts 370 jobs

Dollar Tree (NASDAQ:DLTR) is eliminating 370 jobs, including 100 vacant positions, as it continues to integrate Family Dollar into the enterprise.

The layoffs will take place at the Family Dollar store support center in Matthews, North Carolina.

"This announcement represents another step in the process of integrating our two large organizations," said Dollar Tree CEO Bob Sasser. "Since completing our acquisition a year ago, we have communicated our plans to utilize a shared services model, leveraging our back office functions to support both the Dollar Tree and Family Dollar business segments."

The organizational restructuring will streamline operations, Sasser said in a statement.

Dollar Tree acquired Family Dollar in July 2014, and has since worked to distinguish the two banners. Dollar Tree remains a true dollar store, where everything is priced at $1 and Family Dollar, which is being positioned as a discount store with a wider range of product and pricing. Said Sasser, "We will operate and grow both banners."

For more:
- see this Dollar Tree announcement

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