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HOFFMAN ESTATES, Ill. — Sears Holdings Corp., the corporate parent of Sears and Kmart stores, has eliminated 100 jobs at its headquarters here to cut costs after four years of steep losses. The company also is eliminating 15 positions at other Sears locales.
Sears Holdings Corp., the corporate parent of Sears and Kmart stores, has eliminated 100 jobs at its headquarters here to cut costs after four years of steep losses. The company also is eliminating 15 positions at other Sears locales.
Sears employs about 5,000 people at its headquarters. The headquarters cuts affected most of Sears’ 30 units, from appliances to toys, although some departments escaped job cuts by reducing their budgets through other means and refraining from filling open positions.
"These decisions are never taken lightly, but they are a necessary part of our efforts to transform the company and return it to profitability," a Sears spokesman said. Sears is offering outplacement services and severance pay to eligible employees.
Sears has been reducing inventories and selling assets to increase its liquidity and finance a turnaround effort focused in part on e-commerce and new store formats.
