A Massive Retailer in Chicago Now Closes More Stores

A massive retailer in Chicago now closes more stores leading into the new year, resulting in 100 people losing their jobs.

TJ Maxx and Marshalls have announced they will both be closing a store on January 6, 2024.

Both stores are owned by TJX Companies, which said the decision to close them was made after “assessing and reviewing our real estate strategies.”

“We are always assessing and reviewing our real estate strategies, and our decision to close this store reflects that thinking.

“We are grateful for the loyalty of our Chicago customers and invite them to visit our nearby stores to continue to find great values,” said spokeswoman Monica Crocetti.

The closures will result in 100 staff losing their jobs, but they will be offered positions at other TJ Maxx or Marshall’s stores in Chicago, reports Ash Jurberg.

“The two discount brands have over 1000 stores across the United States, but like many retail businesses, they are facing mounting challenges, and there could be more store closures on the horizon.”

These two retailer stores below will be closing in January 2024:

  • 1008 South Canal Street
  • 7507 North Clark Street

But TJX Companies isn’t the only retailer closing stores in Chicago.

While two TJX stores have been officially listed to close, clothing retailer ‘Express‘ reports another four stores in Chicago will also shutter soon.

The company has advised that the following four locations below are scheduled to close down next year.

  • 11 North State Street
  • 2739 N Clark St, Chicago
  • 3262 West Belmont Ave
  • 4932 South Kedzie Ave

The closures of retail stores in Chicago is a developing story.

Also Read: A US Company Now Declares An Unexpected Bankruptcy

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Market News Today - A Massive Retailer in Chicago Now Closes More Stores.
Market News Today – A Massive Retailer in Chicago Now Closes More Stores.

Another huge retailer now unexpectedly lets go of hundreds after the e-commerce giant has eliminated tens of thousands of roles this year.

Amazon on Friday confirmed it will cut “several hundred” positions in its Alexa unit.

The company did not disclose the exact number of people impacted, their specific roles within Amazon’s devices business, or which Alexa initiatives were affected, reports RetailDive.

U.S. and Canadian-based Amazon employees affected by the Alexa-related job cuts were notified on Friday, per reports.

The company also plans to notify other employees, including some in India starting next week.

“As we continue to invent, we’re shifting some of our efforts to better align with our business priorities and what we know matters most to customers — which includes maximizing our resources and efforts focused on generative AI,” a company spokesperson said in a statement to Retail Dive.

“These shifts are leading us to discontinue some initiatives, which is resulting in role eliminations,” an Amazon spokesperson said.

“We’re grateful to these employees for their contributions, and we’re supporting them in their next steps.” 

Amazon said the number of people affected by the decision represents a relatively small percentage of the total number of people who work in the company’s Amazon Devices business. 

“While this was a hard decision to make, we remain very optimistic about the future of Alexa.

As we move forward, Alexa remains an incredibly important part of our business, and we will continue to invest and innovate to deliver on our vision,” the spokesperson said.

There are more than half a billion Alexa devices in customers’ homes, according to the company. 

“Our investments in generative AI are bringing our vision for an even more intuitive, intelligent, and useful Alexa closer than ever before.”

Also Read: A US Bank is Now Denying Customers Access to Money

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Market News Today - A Massive Retailer in Chicago Now Closes More Stores.
Market News Today – A Massive Retailer in Chicago Now Closes More Stores.

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