Kohl's Letting 250 Go After Poor Holiday Season
The other shoe has dropped after Kohl's (NYSE: KSS) disappointing holiday season. Comparable-store sales fell by 0.2% during November and December which caused the company to revise its fiscal 2019 earnings guidance to the lower end of its previously announced guidance of $4.75 to $4.95.
Now, the chain has decided to lay off 250 employees including a layer of regional management, USA Today reported. The moves are part of a broader attempt by Kohl's to simplify its management structure.
Kohl's is cutting 250 corporate workers. Image source: Kohl's.
Source Fool.com
