This time, the target is Kohl's. According to Fox Business, Kohl's has announced that it will be laying off 10 percent of its entire workforce as the company prepares to close down locations ...
The Menomonee Falls-based retailer has been struggling to maintain a customer base and adapt to changing shopping trends.
Kohl's said that it is shuttering 27 "underperforming" stores across the U.S. by April. One of them is in Massachusetts.
Kohl's plans to close 27 underperforming stores out of more than 1,150 locations as it attempts a turnaround.
In an message to employees, CEO Ashley Buchanan said about 10% of roles reporting to the corporate headquarters have been cut ...
Kohl's faces a $353M bond repayment in July, but plans to sell 27 underperforming stores to raise liquidity. Find out my recommendation for KSS stock.
Kohl’s is not the only department store chain that has struggled in recent years. More than 7,300 retail stores closed last year, a 57% increase from 2023, according to Coresight Research.
More than half of the cuts will come from closing open positions, while the rest will affect current employees.