Sears laid off 130 employees at its corporate offices on Thursday as the company struggles to stay afloat following a dismal holiday quarter.
Sears CEO Eddie Lampert announced the layoffs in an email sent to corporate employees Thursday afternoon.
He said the job cuts are part of a $US1 billion cost-cutting plan, which he revealed earlier this month, according to a copy of the email obtained by Business Insider.
“This activity is necessary to create a more nimble operating structure capable of driving the company’s strategic transformation forward,” he wrote. “We highly value all of our associates and do not take these decisions lightly.”
Sears, which has laid off corporate employees around this time of year for the last several years, had about 4,850 employees and 800 contract workers at its headquarters in Hoffman Estates, Illinois last year, according to Crain’s Chicago Business.
The company did not respond to requests for comment on the layoffs.
Here’s Eddie Lampert’s email to employees:
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