Story perspectives

Kohl's Cuts Jobs, Closes Stores Amid Sales Decline

2/1/2025

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Summary

Story summary

Kohl's is reducing its corporate workforce by 10%, affecting fewer than 200 employees to boost profitability.
The retailer plans to close 27 underperforming stores across 15 states by April, maintaining about 1,120 locations.
A reported 8.8% decline in Q3 2024 net sales has led to these restructuring actions.
Severance packages will be provided to affected employees as the company enhances its e-commerce strategy.
Leadership changes include Ashley Buchanan replacing CEO Tom Kingsbury to revitalize products and operations.

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Story summary

Kohl's is reducing its corporate workforce by 10%, affecting fewer than 200 employees to boost profitability.
The retailer plans to close 27 underperforming stores across 15 states by April, maintaining about 1,120 locations.
A reported 8.8% decline in Q3 2024 net sales has led to these restructuring actions.
Severance packages will be provided to affected employees as the company enhances its e-commerce strategy.
Leadership changes include Ashley Buchanan replacing CEO Tom Kingsbury to revitalize products and operations.