Headlines

RadioShack to Lay Off 280

Retailer says most position will be at the headquarters level

Published

17 years ago

April 23, 2007

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RadioShack Corp. (Fort Worth, Texas) is laying off approximately 280 positions in April, according to a SEC filing Thursday.

The layoffs will primarily be headquarters positions.

The consumer electronics retailer said that it expects to incur a pre-tax charge of about $8.5 million for one-time termination benefits as the result of the reductions. In addition, the company said it expects that this will result in an annualized pre-tax savings of approximately $30 million.

The news comes less than a month after rival Circuit City Stores Inc. (Richmond, Va.) announced it was laying off 3400 workers.

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