HOFFMAN ESTATES, Ill. — Sears will be laying off 400 corporate employees, mainly at its Hoffman Estates headquarters, said Sears Holdings Tuesday.
The layoffs come as part of an effort to restructure their business, which is designed to deliver Sears $1.25 billion in annual cost reductions. On top of the corporate office jobs, positions at field operations will be effected as well due to store closures Sears initiated earlier in June.
In a statement, Sears Holdings said that while the total number of people directly affected by the restructuring represents a “small fraction” of their total headcount, they are “are conscious of the impact on individual employees.”
“We are providing eligible associates severance compensation and transition assistance. As part of the organizational restructuring, the company first eliminated open positions and reduced contract employees in an effort to minimize the impact on full-time employees,” Sears said.