Charming Shoppes to cut 225 positions

BENSALEM, Pa. Charming Shoppes announced further reductions in its work force of approximately 225 positions at its corporate support and brand headquarters offices.

Charming Shoppes said it expects the reductions will result in a pretax annualized cost savings of approximately $12 million for the fiscal year ending Jan. 30, 2010. The initiative is expected to cost approximately $2 million and is expected to be recorded during the fourth quarter ending Jan. 31, 2009.

Alan Rosskamm, chairman of the band interim CEO of Charming Shoppes, said, "As difficult as these actions are, they are necessary for us to right-size our cost structure during this environment of declining revenues. These actions are being taken in order to streamline business operations and are consistent with other actions we have taken over the last several months."