Sears Lays Off 220 Employees At Corporate Offices
Sears Holdings on Wednesday laid off 220 employees primarily at the company’s corporate headquarters in Hoffman Estates, Illinois, effective immediately. The job cuts impacted various business units and roles across the retail organization, a spokesman told CNBC. The moves are part of the department store chain’s ongoing restructuring plan, announced earlier this month, to streamline operations and get back to profitability. “The company continues to achieve significant progress in our restructuring program, with actions taken in fiscal year 2017 to realize $1.25 billion in annualized cost savings,” the spokesman said. Earlier this month, the retailer also outlined its plans to shutter more than 100 locations under the Sears and Kmart banners, impacting hundreds of other part-time positions as those stores go dark.The company has said it will offer severance and transition assistance to those employees who are eligible. It wasn’t immediately clear how many people still work at Sears’ corporate headquarters, and the company declined to comment. Read more at CNBC.
