Pier 1 Imports Reorganizes Fort Worth HQ Staff With ‘sense of Urgency'

Pier 1 Imports' interim CEO Carol Bachelder said Wednesday that she has reorganized the corporate staff in Fort Worth to cut costs, "better align its operations with its long-term strategy" and to become more agile.It's not clear how many people lost jobs from the reorganization or that work in the Fort Worth corporate office. "We have approached this important task with a sense of urgency, establishing a narrow set of immediate strategic priorities and leveraging opportunities to improve how we operate and deliver the style, value and selection of merchandise that our customer wants," she said.Pier 1 said the cuts announced Wednesday will result in a net of 20 fewer corporate jobs. That includes filling open positions and additional new hires it expects to complete this year, the company said.Also, the cuts don't extend to its 970 stores in the U.S. and Canada."The new organizational sets the right foundation for a series of steps we plan to take in the coming months across the areas of merchandising, marketing, margins and costs," Bachelder said in a statement.Pier 1 said the organizational redesign, key priorities and an action plan will be announced during the April 17 conference call to review year-end results. Pier 1's fiscal year ends on March 2.The announcement was made after the market closed. The stock closed at 82 cents a share, up 7 cents, on Wednesday.Twitter: @MariaHalkias  Continue reading...