Dollar Tree, FDO Support Centers In Chesapeake, Virginia To Be Consolidated

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(RTTNews.com) - Dollar Tree Inc. ( DLTR ) said that, as part of its continuing integration of Family Dollar's organization and support functions, it plans to consolidate its store support centers in Matthews, North Carolina and Chesapeake, Virginia to Dollar Tree's newly-completed office tower in the Summit Pointe development in Chesapeake.

The company noted that it has communicated plans to all associates and expects the store support center consolidation to be completed by Fall 2019. While Family Dollar's headquarters facility in Matthews, North Carolina will be closed following the consolidation, the distribution center in Matthews will remain open to serve Family Dollar stores.

The company has offered the opportunity for relocation to about 700 associates and will be providing job transition benefits and outplacement services to all affected associates.

The company expects to incur total pre-tax expense of about $40 million to $49 million, and estimates that $5 million to $8 million will be incurred during fiscal 2018, related to the store support center consolidation plans announced today. These expenses will include job transition and relocation costs, outplacement services and one-time severance-related benefits.

Read the original article on RTTNews (http://www.rttnews.com/2935982/dollar-tree-fdo-support-centers-in-chesapeake-virginia-to-be-consolidated.aspx)

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This article appears in: Stocks , Technology
Referenced Symbols: DLTR ,

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