Sears Layoffs: Hundreds Let Go From Corporate Headquarters Amid Store Closures

Transformco, the parent company of Sears and Kmart, has reportedly laid off hundreds of workers from its corporate headquarters. The exact number of employees cut has not been disclosed by the retailer.

According to a source for Business Insider, the layoffs affect less than 300 workers at the company’s Illinois headquarters and an office in San Francisco. The employees have already been notified, the source said.

The news of the layoffs come as Transformco laid off about 250 corporate workers in September and announced that it was closing 96 stores by February last week. The company will have about 180 Sears and Kmart stores operating after the announced closures.

"We have been working hard to position Transformco for success by focusing on our competitive strengths and pruning operations that have struggled due to increased competition and other factors,” the company said in a statement to the news outlet.

“Unfortunately, this process resulted in a number of difficult but necessary decisions, including closing stores and making adjustments at our corporate headquarters and field positions to reflect our new structure. We regret the impact that this has on our associates and their families.”

Sears emerged from bankruptcy earlier this year in a $5.2 billion deal.