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twitterClosures won’t affect LV stores
Thursday, Nov. 2, 2000 | 11:24 a.m.
Auto parts seller Pep Boys said it will close 38 unprofitable stores and two distribution centers, resulting in the elimination of 1,500 jobs nationwide.
Spokesman Bill Furtkevic said none of the 10 Pep Boys stores in Las Vegas will close.
The Philadelphia-based chain said it expects to save $70 million a year with the move. Pep Boys said it will take a $60 million charge in its fiscal third quarter for the restructuring.
Pep Boys, which had $2.4 billion in sales in fiscal 2000, operates 627 stores and has almost 28,000 employees nationwide.
"We've had some restructuring done at management level in all 627 stores to streamline the management," Furtkevic said. "We've had certain management positions eliminated at the Las Vegas stores, but the personnel have been moved into other positions within the stores."
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