TJX Lays Off 300 Hundred Employees

FRAMINGHAM – TJX Corp, headquartered in Framingham, laid off hundreds of employees today, May 10, as part of an infrastructure and operations restructure.

“As TJX continues to grow, we consistently look for ways to efficiently meet the needs of our expanding business and help us better serve our customers around the world,” said Doreen Thompson Vice President, Global Communications

“Today, we announced the restructuring of our global IT Infrastructure and Operations group, which eliminates approximately 300 IT positions. As part of this restructuring, certain services will transition to a third-party provider, who plans to create job opportunities for some of the people whose TJX positions will be eliminated.  While we are eliminating certain positions in this area of IT, as part of our overall strategy, we are expanding in others to meet the future needs of our business,” said Thompson.

 

“Although we believe this is the right strategy, these decisions are always difficult.  We are grateful to these Associates for their contributions and dedication to the Company. We are confident that the changes we are making will ultimately better position the IT organization to support the continued growth of our Company,” said Thompson.

“All I&O employees, including those whose roles have been eliminated, will have the opportunity to remain employed at TJX until August 31, 2018,” wrote Executive Vice President and CIO Mark Beyerly, in an internal memo.

In February, TJX announced net sales of $35.9 billion for the year, an 8 percent increase over last year’s 7 percent increase.

In February, Ernie Herrman, Chief Executive Officer and President of The TJX Companies, Inc., said “We are very pleased with our strong finish to 2017. … “We are also pleased with our full-year performance as we surpassed $35 billion in annual sales, an important milestone for our Company! Consolidated comp store sales were up 2% as we marked the 22nd consecutive year of comp sales growth for TJX. For the full year, adjusted earnings per share were also above our plan. Looking ahead, 2018 is off to a solid start. We see abundant opportunities in the marketplace for major brands and high-quality merchandise and are pursuing numerous initiatives to keep driving sales and customer traffic. Our management team is laser focused on achieving our 2018 plans and, as always, passionate about surpassing them.”

 

 

 

 

Framingham Source Editor Susan Petroni

Susan Petroni Framingham Source Editor Email: editor@FraminghamSource.com Phone: 508-315-7176

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