Like falling skittles, retail stores in the US are closing up shop and filing for bankruptcy. Now, Kohl's is having to close multiple stores and lay off a massive 10 percent of staff as they struggle to stay afloat.
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According to Fox Business, Kohl's is looking to lay off 10 percent of its entire staff. This is in an effort to hoard profits and avoid having to shut up shop completely. These layoffs will come along with a substantial amount of stores closing across the country.
Kohl's has already announced that it is planning on closing many underperforming stores around the country. In a report, they stated that they were hoping to shut a total of 27 underperforming Kohl's stores across 15 states in 2025. This will result in a huge amount of people out of a job, and a dip in their presence.
Kohl's Layoffs Both Corporate And Front Of House
Along with the many layoffs that will come from the closing of Kohl's stores, come corporate layoffs. A significant number of people in the offices will be losing their jobs, forced to look elsewhere whatever it was they do in there.
In a report by Fox Business, they said that the closures and layoffs "support Kohl's ongoing actions to increase efficiencies and improve profitability for the long-term health and benefit of the business." To ensure the success of their prospering stores, they have to trim the fat.
Sadly, this may mean a few less of the retail stores on the streets. It will also result in a lot of people having to look for new jobs. But, this is just another sign of the times. A retail store like Kohl's days are numbered.
Shopping online for anything and everything has never been easier. Delivery is wickedly fast, and anything you could dream of can be delivered to your door. It isn't just the all-American brand that needs to be watching its profits either.
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