2,700 jobs could be cut as Dollar General buys Charlotte discount chain

[TexasTowelie]

As discounter Dollar General buys the small Charlotte-based chain Dollar Express, up to 2,700 part-time and full-time store employees around the country may be losing their jobs.

Tennessee-based Dollar General confirmed its plans on Monday to buy all 323 discount stores in 36 states from Dollar Express. That’s the chain of former Family Dollar stores owned since late 2015 by the private equity firm Sycamore Partners.

Multiple Dollar Express employees told the Observer they were informed that their last day of employment would be on or around June 2 since Dollar General is not retaining any of them. Stores will begin their liquidation processes soon, said the employees, who asked not to be named for fear of retribution.

The employees said their stores, which still carry the Family Dollar name, will be rebranded as Dollar General stores. The Dollar Express chain operates two stores in Charlotte – one at 1437 E. Sugar Creek Road, and another at 5300 South Blvd.

Read more here: http://www.charlotteobserver.com/news/business/article142449339.html

[democratisphere]

1. Mergers and acquisitions rarely create more jobs.

Wall Street's monopolies continue to aid in the destruction of the job market. Keeping the wealthiest wealthier.