Kmart-dependent jobs to go early
25/04/2008
Footwear supplier Footstar has announced that it will cut 130 jobs before folding its business at the end of the year.
The New Jersey-based company has a license to run exclusively the footwear departments in Kmart retails stores across the US but the agreement that allows it to do so will run out at the end of this year.
Footstar had been saying for some time that it was unlikely to find a replacement contract and was, therefore, likely to go out of business.
Now the company has decided that 130 people (about 5% of its total workforce) can go early.
At the end of last year the company had just under 4,000 employees, more than 90% of them involved in the Kmart contract, which covers 1,388 stores.
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