Kohl’s Corp. on Wednesday laid off nearly 60 employees at its corporate headquarters in Menomonee Falls.
The retailer confirmed the news, first reported by the Journal Sentinel, with BizTimes Milwaukee on Thursday with a statement saying it has “reorganized parts of our organization to drive greater efficiency in our operations, (the company is) offering a competitive severance package and outplacement services to all those affected.”
The layoffs largely impact the marketing and merchandising teams.
“We put a great deal of planning into this decision and … we appreciate the many contributions of the impacted associates and we thank them for their dedication and service to Kohl’s,” the company’s statement said.
A Milwaukee Journal Sentinel report cited data by Inside Radio, showing that Kohl’s bought more radio spots than any other retailer during the first week of December last year, ranking among the top 10 radio advertisers for the third consecutive week.
The retail chain is in the midst of a search for a new CEO, following the departure of former head Michelle Gass who recently took a new role as president at San Fransisco-based Levi Strauss & Co. The New York Times reported this week that interim CEO Tom Kingsbury will likely emerge as the board’s pick to permanently take the helm.
Kohl’s earnings were down 60% year-over-year at the end of the third quarter of fiscal 2022. The company at the time did not provide guidance for the fourth quarter and withdrew its outlook for the full year.
