About 100 workers at the Sears Hoffman Estates headquarters have been laid off, according to Sears Holdings spokesperson Howard Riefs.
Riefs said that the giant retailer is struggling to streamline its operations with the goal of reduced expenses while still “managing the strategic needs of the business.”
“This represents a mix of positions in various departments across the organization,” Riefs added. “These decisions are never taken lightly, but they are a necessary part of our efforts to transform the company and return it to profitability. We are committed to treating these associates with respect and compassion during this process. Eligible associates will receive outplacement services and severance to assist in their transition.”
Sears has been experiencing pressure from Wall Street to reel in expenses since the company has been in the red in recent years. Sears Holdings Corporation has 20,000 les employees as compared to one year ago, and has been experiencing losses for two years as of today.