Zale to Shut More Stores, Lay off Workers

We are hearing more and more about layoffs around the country. I would imagine people just don't have the extra money to spend on jewelry with the high price of gas and groceries. So it comes as no surprise to hear the jewelry retailer, Zale Corp, said it will close more stores and cut 20 percent of its headquarters staff to save more than $65 million a year. The company also said it will close another 23 stores, bringing to 105 the number it expects to shut by the end of July. That would leave about 2,145 stores and kiosks under several brands, including Zales Jewelers and Piercing Pagoda. They added they will lay off 140 people and eliminate 140 unfilled positions at its headquarters in suburban Dallas, Texas.