Walmart, Sears cut staff

Big retailers are reducing staff at headquarters along with store closures in the face of poor financial performance.

Sears has eliminated 250 jobs, mostly at its Hoffman Estates, Illinois headquarters. The company also said that it will not fill 151 open corporate office positions.

Walmart (NYSE:WMT) has terminated more than 100 employees at its headquarters in Bentonville, Arkansas. Most of the cuts were at the company's information services, or IT, division. This group was merged with the @WalmartLabs division in January. Both now operate under the banner of Walmart Technology, according to Arkansas Online.

Both retailers recently announced store closures. Sears will accelerate store closures in 2016 and Walmart said in January that it would close 154 stores, including all Walmart Express locations.

Layoffs are part of companywide restructuring efforts.

For more:
-See this Chicago Tribune story
-See this article at Arkansas Online

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