FINANCE

Sprint to Close 125 Stores

BY CSA STAFF

Reston, Va., Sprint Nextel Corp. will eliminate about 4,000 jobs, close more than 4,000 third-party distribution points, and shutter about 125, or 8%, of its company-owned retail locations.

In a filing with the U.S. Securities and Exchange Commission, the company said it expects to take an accounting charge of about $200 million for severance and related costs associated with the layoffs.

Sprint Nextel said it expects to complete the job cuts in the first half of the year, with final reductions complete by the end of June. The cuts will include management and non-management positions throughout the company.

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Safeway to reward healthy workers

BY CSA STAFF

Pleasanton, Calif. Safeway reportedly is offering health insurance discounts to employees who participate in a program that tracks their food buying habits.

The company, according to reports, said it would reward those workers who demonstrate that they live a healthy lifestyle with lower premiums.

The Safeway plan will be connected to the company’s online FoodFlex service, which launched in November as a way to encourage healthy shopping, according to reports. Participating customers provide details on their family’s health and lifestyle and are given nutritional analysis of their store purchases, delivered through their Safeway card.

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Penneys partners with green expert Seo

BY CSA STAFF

NEW YORK JCPenney is partnering with green lifestyle expert Danny Seo, who will help the retailer determine which of its private brands are eco-friendly.

Seo announced in his blog last week that he had been working with JCPenney as its Green Living Partner to assist the retailer in its designation of green products. Beginning in March, customers will find products marked as eco-friendly at JCPenney stores and at jcp.com.

Seo has come to be regarded as an expert on environmental living. He has written several books on how to live a green life without sacrificing style including Conscious Style Home.

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