Staples Lays Off Headquarter Employees

Staples Inc. (Framingham, Mass.) laid off employees at its corporate headquarters Monday, Jan. 25. Fortune reports the positions of  “hundreds” of senior and junior level employees were eliminated. The report also mentioned the company has not commented and did not confirm or deny layoffs. A press release stated Staples Inc. would make leadership changes to “streamline its structure.”

Stock for Staples is down 7 percent in 2016 and down more than 50 percent since last February when the potential merger with Office Depot Inc. (Boca Raton, Fla.) was announced.