The TJX Companies Down After Annoucing Job Cuts

What a way to start the holiday season, huh? The TJX Companies, Inc. TJX announced this morning that it would be cutting 4,400 jobs this morning, some of which are part-time, as a move to get rid of its A.J. Wright stores. The company will shut 71 stores and turn 91 A.J. Wright stores to T.J. Maxx stores. The company said it will save earnings of $25 million to $30 million annually, and it will take a 38-43 cent per share charge related to this move. Shares are currently down 24 cents to $44.72 in early Friday trade.