Sears cuts 115 corporate jobs

In its latest effort to retool its business and return to profitability, Sears Holdings has laid off 115 corporate workers, including 100 employees at its headquarters in Hoffman Estates, Illinois, effective immediately.

A spokesman for the retailer, Howard Riefs, said the job cuts represent a “mix of positions in various departments across the organization.”

Getty Images A sign marks the entrance to the headquarters campus of Sears Holding in Hoffman Estates, Illinois.

Getty Images
A sign marks the entrance to the headquarters campus of Sears Holding in Hoffman Estates, Illinois.

“The company continually seeks to enhance its operational efficiencies and reduce expenses while we manage the strategic needs of the business,” Riefs said in an email. “These decisions are never taken lightly, but they are a necessary part of our efforts to transform the company and return it to profitability.”

Read More Sears to accelerate store closings

Eligible employees will receive outplacement services and severance, Riefs said. The company employs about 5,500 at its Hoffman Estates offices.

Sears has been pulling a number of levers as it works to reverse a string of negative sales and earnings reports.

In the third quarter, the retailer posted an adjusted net loss of $296 million, and said that it would accelerate the pace of store closings for the year from 130 to 235.

In November, Sears said it was considering converting hundreds of its stores into a real estate investment trust. If it were to follow through with that plan, it would own between 400 and 500 stores, and lease between 1,300 and 1,400 locations.

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Sears hasn’t had a profitable quarter since fourth quarter of 2012, according to Retail Metrics.

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