Office Depot Shuttering 300 Stores

Office Depot (Boca Raton, Fla.) has announced it will close 300 stores over the next three years.

The plan is expected to help cut annual costs by $250 million by the end of 2018, reports Time.

The company closed 42 stores in the second quarter, ending the period with 1513 stores in North America ​as part of its earlier plan to close 400 stores, according to The Wall Street Journal. But this week it announced it would close an additional 300 stores beyond that target.