Kohl’s said on Tuesday it has reduced nearly 10% of its corporate workforce, as the department store chain aims to improve profitability.
The company said more than half of the total reductions would come from closing open positions, while the rest from eliminating roles currently held by its associates.
The layoffs follow Kohl’s announcement earlier this month to close 27 underperforming stores by April as well as an e-commerce fulfillment center in San Bernardino, California.
The company had about 96,000 employees in 2023, including nearly 36,000 full-time and 60,000 part-time workers, according to its latest regulatory filing.
Like other department stores, Kohl’s has been struggling with patchy demand from bargain-hunting customers while spending on trendier clothing such as wide-legged jeans and logo-free shirts.
In November, the company appointed former Walmart executive Ashley Buchanan as CEO, following Tom Kingsbury’s exit after less than two years at the helm.
It also forecast a bigger drop in annual sales than previously expected a day after announcing the CEO transition.
(Reporting by Juby Anna Babu in Mexico City and Juveria Tabassum in Bengaluru; Editing by Shilpi Majumdar)
