More Massachusetts business closings and layoffs….

Not sure how I missed this one.  I didn’t see it in the news, but rather noticed a number of ‘profile’ updates in LinkedIn from friends working for the TJX companies.  But, I finally found it in the news…

TJX Companies is closing all of its AJ Wright stores, converting 91 to TJMaxx and Marshalls stores, but closing the 71 others.  This will result in 4,400 layoffs by the time it is done in mid-February.  Hundreds alone from the corporate office in Natick/Framingham area…

As you may know, TJX Companies is a huge Massachusetts retailer and this will directly result in the loss of employment of many retail experts in their corporate office.  I know many of these people and quite a few had just returned to work about 6 to 8 months ago.

Importantly, this tells us something about the economy.  First, the retail marketplace is now oversaturated as demand for product drops.  Second, the economy is particularly weak in the Northeast where all of the AJ Wright stores were located.  Third, career retail professionals will have an extremely difficult time replacing their work as Massachusetts becomes a less retail friendly environment with every passing day.  Fourth, the fact that the low-end retail division of TJX Companies is going down suggests that the economy is particularly bad for low income people.  In other words, everything Deval Patrick and Barack Obama have done for the economy has not helped low income working families one bit!  Fifth, the closings being announced BEFORE Christmas is a particularly bad sign as most retailers would wait to see results from holiday shopping before making the final decision.  In other words, they knew that business would not recover, no matter how good the spending for holidays.  And finally, the discounts being offered by AJ Wright as it closes will depress profits for all apparel and giftware retailers thus forcing margins further down the profitability ladder.


No doubt Deval Patrick and his motley crew of socialists and moonbats will spin this as a positive somehow.  I think that since so many people working there (that I know at least) got their jobs less than a year ago they will not be qualified to collect unemployment.  

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