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Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
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Report: Sears Lays Off 220 at Corporate Offices
About 150 of the affected employees worked at the company’s headquarters in Hoffman Estates, Illinois, according to CNN.
About 150 of 220 eliminated jobs on the corporate side of Sears Holdings were employees at the company’s headquarters in Hoffman Estates, Illinois, pictured here.
Hoffman Estates, Illinois--Sears is cutting more jobs, but this time they’re at the company’s corporate offices.
According to CNN, the retailer is laying off about 220 people effective immediately, affecting various departments and roles in the company.
Most of the affected employees worked at the company’s headquarters in Hoffman Estates, Illinois. CNN reported that 150 jobs were eliminated there, with the remaining 70 layoffs outside Illinois.
Sears Holdings did not respond to an email from National Jeweler by press time, but a company spokesperson is quoted as saying in the CNN report that, “The company will provide severance and transition assistance to those who are eligible and, as always, we are committed to treating associates with compassion and respect during this difficult time.”
The move comes as the retailer attempts to cut costs and increase profitability. This has already included the closure of more than 400 stores in 2017 as well as the sale of some of its real estate.
Then last month it announced plans to close 103 more locations--64 Kmart stores and 39 Sears stores--between early March and early April.
In its third quarter results reported at the end of November, Sears said revenue was down from $5 billion to $3.7 billion, due in large part to store closures. Same-store sales during the three-month period, meanwhile, were down 15 percent.
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