Sears Lays Off 220 Corporate Employees

Sears (Hoffman Estates, Ill.) is laying off approximately 220 employees from its corporate offices. The cuts are effective immediately, and most of those affected are located at the corporate headquarters.

The move is part of an effort to turn the business around and cut costs, following a string of shuttered stores and asset sales, according to CNN Money.

Sears spokesman Howard Riefs said, “The company continues to achieve significant progress in our restructuring program, with actions taken in fiscal year 2017 to realize $1.25 billion in annualized cost savings.”