Sears Holdings laid off about 130 corporate employees Thursday, part of a restructuring plan aimed at cutting at least $1 billion in costs this year.
The 130 employees worked in various roles at Sears' corporate offices, mostly in its Hoffman Estates headquarters, Sears spokesman Chris Brathwaite said.
Sears Chairman and CEO Edward Lampert, in a letter to employees, said the job cuts were needed to "create a more nimble operating structure capable of driving the company's strategic transformation forward."
Other steps in the restructuring are still being planned, Lampert said in the letter.
"We need to continue to take action to adapt to the new...