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Kohl's Cuts 250 Jobs While Arguing That it is Operating From 'a Position of Financial Strength'
February 13, 2020
Source: Business Insider
Kohl's is eliminating 250 roles, including an entire "layer" of regional-store leadership, according to a report from the Milwaukee Journal Sentinel.
The retailer said it was initiating the reorganization while operating "from a position of financial strength."
"This reorganization in our business will empower decision-making, reduce management layers, streamline communications and drive greater efficiency in many areas of our business," Jen Johnson, Kohl's senior vice president of communications, said in a statement that Fox 6 journalist Suzanne Spencer posted on Twitter.
In the statement, Johnson said Kohl's was not slated to close "any stores or corporate offices" and that it was "continuing to hire in key areas." The role eliminations will affect regional-store leadership, Kohl's merchant organization, and certain corporate teams.
Kohl's provided Business Insider with a copy of Johnson's statement.
Johnson said in the statement Kohl's would offer laid-off employees both outplacement services and "a competitive severance package" and thanked them "for their contributions and years of service at Kohl's."
"The organizational changes we've made are driven by the evolution of our strategic business priorities to create a more agile and empowered organization to support our long-term sustainable growth," Johnson said in the statement.