Sears lays off 200 corporate workers as sales tumble

Business Insider | 7/11/2018 | Hayley Peterson
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Sears Holdings laid off 200 corporate employees on June 26.

The layoffs followed Sears' announcement that it would close nearly 80 stores by September.

Coworkers - Friends - Organization - Changes - Part

"Having coworkers and friends leave the organization is never easy, but making changes like these are a necessary part of creating a stronger organization in this time of industry disruption," Sears CEO Eddie Lampert wrote in a June 26 memo to employees announcing the job cuts.

Sears cut roughly 220 corporate jobs earlier this year, following two rounds of cuts last year totaling more than 500 jobs.

Sears - Employees - June - Company - Business

Sears laid off 200 corporate employees in June, the company told Business Insider on Wednesday.

The layoffs, which took effect June 26, came on the heels of the company's announcement that it would close nearly 80 Sears and Kmart stores in August and September.

Workers - Company - Headquarters - Hoffman - Estates

About 150 of the workers impacted were based at the company's headquarters in Hoffman Estates, Illinois.

In a memo to employees dated June 26, Sears CEO Eddie Lampert said the cuts were part of an effort to streamline operations and return the company to profitability.

Coworkers - Friends - Organization - Changes - Part

"Having coworkers and friends leave the organization is never easy, but making changes like these are a necessary part of creating a stronger organization in this time of industry disruption," Lampert wrote. "We continue to fight every day to improve the performance of Sears Holdings —and you are central to that effort."

Sears has been looking for ways to cut costs following years of crippling sales declines. The company has cut its store count in half within the past five years to 894 stores as of May 5, down from 1,980 stores in 2013.

Sears - Workforce - Company - Jobs - Year

Sears has also been systematically trimming its corporate workforce. The company cut roughly 220 corporate jobs earlier this year, following two rounds of cuts last year totaling...
(Excerpt) Read more at: Business Insider
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