TJX Companies, the Framingham-based national retail giant, announced Friday morning plans to cut 4,400 jobs as the company slashes its A.J. Wright division, closing 71 stores, two distribution centers – including one in Fall River – and A.J. Wright’s home office in Framingham.
TJX also intends to convert 91 remaining A.J. Wright into T.J. Maxx, Marshalls or HomeGoods stores, an effort the company says will enable it to focus on its “more profitable” assets.
None of the stores slated for permanent closure appear to be in Boston. It is unclear what the Fields Corner store will be converted into.
"While I believe this move makes us a much stronger company and will benefit TJX in both the near-term and long-term, it was not an easy decision as many positions will be eliminated and it will be difficult for our affected Associates,” said Carol Meyrowitz, president and CEO of TJC. “As a Company, however, it will allow us to focus our financial and managerial resources on our highest return businesses, all of which have significant growth opportunities, as well as to significantly improve the economic prospects of our business.”
The 4,400 workers whose jobs will be eliminate will “have the opportunity to be compensated at least through the holiday season, and most will remain employed through late January,” according to TJX’s announcement.