Sears lays off 220 workers at headquarters

By MarketsAssociated Press

Sears Holdings Corp. says it's laying off 220 workers primarily at its headquarters in Hoffman Estates, Illinois as it struggles to turn around its ailing business.

A company spokesman said Wednesday the job cuts were across the board and are effective immediately. Sears says it's offering severance and transition assistance to those workers who are eligible.

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Earlier in January, the retailer said it was closing more than 100 locations under the Sears and Kmart names. That includes 64 Kmart stores and 39 Sears stores that will be shuttered between early March and early April.

That's in addition to closing about 250 stores announced last year.

Sears, which struggled through a weak holiday season, has been selling off some of its real estate and brands as it tries to raise cash.

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