By Nick Gale, WLS-AM 890 News
(HOFFMAN ESTATES, Ill.) — Sears says it will cut about 400 full-time jobs as part of the retailer’s plan to try and turn business around.
Sears Holdings, parent company of the Sears and Kmart chains, says the cuts include some at its corporate offices in Hoffman Estates. Other cuts include jobs related to store closures and some field operations positions.
Sears says that the job cuts are part of its previously announced plans to save $1.25 billion in yearly costs. The company is reportedly closing an additional 66 stores by early September. That’s on top of the 150 stores that closed in April.
“We are making progress with the fundamental restructuring of our operations that we initiated in February,” Edward Lampert, CEO of Sears Holdings, said in a statement. “We remain focused on realigning our business model in an evolving and highly competitive retail environment. This requires us to optimize our store footprint and operate as a leaner and simpler organization.”
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