Sears lays off 220 people at corporate offices
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Sears Holdings on Wednesday laid off about 220 workers from its corporate offices, mostly in Hoffman Estates.
The layoffs are part of the retail company’s ongoing restructuring plan, a company spokesman said.
The retailer, which recently announced plans to close about 100 Sears and Kmart stores, said it made significant progress on its restructuring plan in fiscal year 2017 with the goal of reducing annual costs by about $1.25 billion.
“As we continue toward our goal to return the company to profitability, today, as part of the restructuring program, we announced internally the decision to eliminate approximately 220 positions at our corporate offices,” the company said.
The layoffs, which were effective immediately, affected various business units and roles across the company. Laid-off workers will receive severance and transition assistance, the company said.
The layoffs were first reported by CNBC.