Family Dollar to close 370 stores, cut jobs

North Carolina-based Family Dollar Stores Inc. plans to close 370 stores, according to Bloomberg.

The company also will conduct reviews to improve business, which will include cutting an unspecified number of jobs, lower prices on about 1,000 items and slow new store growth.

The closings amount to 4.6 percent of Family Dollar’s 8,100 locations and will generate as much as $45 million in annual cost savings, Bloomberg reports.

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