|
|
Article: No more `business as normal' for Wieboldt's
- Article from:
- Chicago Sun-Times
- Article date:
- June 8, 1986
- Author:
CopyrightCopyright (null) Chicago Sun-Times. (Hide copyright information)
|
Wieboldt Stores has begun an aggressive campaign to streamline
its operations by cutting 300 employees, reducing the size of its
department stores and selling real estate holdings to generate cash.
Given Wieboldt's shaky financial condition, "It can't be
business as normal," said Stan Seiden, president, chief operating
officer and merchandise manager.
"You're seeing some of the hard-nosed actions the previous
management should have (taken)," said Chris Jansen, the Chicago-based
chain's financial chief. One of Wieboldt's latest moves is offering
for sale its remaining 30 percent interest in the flagship State
Street store.
Expense reductions during the past two or three weeks will ...