Tags: kohls | job | cuts | corporate | staff | workforce

Kohl's Will Eliminate 15% of Its Corporate Staff to Curb Costs

Kohl's Will Eliminate 15% of Its Corporate Staff to Curb Costs
(Jonathan Weiss/Dreamstime)

Wednesday, 16 September 2020 07:56 AM

Kohl's Corp. said it has cut about 15% of its corporate jobs as the department store operator looks to save cash at a time when the COVID-19 has hammered demand for its products.

The company said the job cuts would likely save it about $65 million in annual expenses, and were part of its broader plan to reduce costs by more than $100 million.

The layoffs at Kohl's come at a time of high unemployment in the United States. Nearly 900,000 Americans filed for weekly jobless benefits, according to the last reported figures from the Labor Department, suggesting the labor market recovery from the pandemic was stalling. 

© 2020 Thomson/Reuters. All rights reserved.


   
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Kohl's Corp. said it has cut about 15% of its corporate jobs as the department store operator looks to save cash at a time when the COVID-19 has hammered demand for its products.
kohls, job, cuts, corporate, staff, workforce
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2020-56-16
Wednesday, 16 September 2020 07:56 AM
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