28 Illuminations stores, one Yankee Candle to close
Yankee Holding Corp. today said it will cut 330 jobs as part of a restructuring plan that includes closing its 28 Illuminations stores.
Yankee is also discontinuing its Illuminations consumer direct business and closing one underperforming store at its Yankee Candle Co.
The job cuts include about 310 store employees and field personnel at Illuminations, about 10 store employees at the Yankee Candle store, and about 12 corporate and administrative personnel at corporate headquarters in South Deerfield.
According to Capital IQ, the company has 3,800 employees and operated 459 retail stores at the end of 2007.
Yankee said all affected full- and part-time employees are being offered a severance package.
The company expects to close the Illuminations stores, which are primarily on the West Coast, by April 30.