Kohl’s to cut 15% of office jobs due to virus-related slump
Kohl’s, whose sales have been hurt by the pandemic, said Tuesday that it will cut 15% of its office workers to save money.
The company declined to say how many people will lose their jobs. The layoffs will be at its headquarters in Menomonee Falls, Wisconsin, as well as offices in New York and Milpitas, California.
In recent months, other major retailers including Levi’s and Victoria’s Secret owner L Brands have also announced job cuts for corporate staff.
Kohl’s, like other retailers that sell clothing and other non-essential items, temporary closed all its department stores at the start of the pandemic. After reopening, its sales in the second quarter still fell 23% and the company reported a loss of $39 million.
Kohl’s Corp. said cutting the jobs will save it about $65 million a year.