Kohl’s Lays Off 15 Percent of Corporate Staff

The retailer may save $65 million in a year due to the cuts
Posted September 16, 2020

Kohl’s (Menomonee Falls, Wis.) has laid off roughly 15 percent of its corporate staff in order to “further align its cost base in response to the business impact resulting from the COVID-19 pandemic,” according to a securities filing made by the company. Retail Dive reports that the cuts should save the retailer $65 million in a year. It will also reportedly add one-time costs of $23 million for the year.

In all, the company is planning to save roughly $100 million a year due to its restructuring strategies, which included another 250 jobs the company cut this past February.

Kohl’s, among with many other retailers, had to temporarily close its doors during the COVID-19 pandemic. And though its stores are now open, sales are still down, Retail Dive reports.