Bon-Ton layoffs could affect 172 Chicago workers
As the recession continues to beat down America's retail sector, Bon-Ton Stores Inc. has responded by announcing a plan to cut 1,150 corporate and store jobs. Bon-Ton is the parent of department store chain Carson Pirie Scott, which has approximately 25 locations in the Chicago area. The company expects the layoffs will affect 172 workers locally. Bon-Ton's cost-cutting plan--aimed at decreasing spending, adjusting inventory levels, eliminating bonuses, and suspending employer contributions to the company's 401(k) plan--is slated to boost the company's income by $70 million a year, the Chicago Tribune reported.