Friday, December 30, 2011

Sears, Kmart First Round Closings Cut ~4,700 Jobs

Estimated 4,700 Workers May Be Cut in First Round of Sears, Kmart Closures: Sears Holdings didn't provide an estimate of how many workers will be cut as a result of the 79 store closures. However, the retailer did say that a typical store on the closure list employs 40 to 80 people. At 60 employees per store (the middle point between 40 and 80), that would mean a loss of more than 4,700 jobs — assuming that no workers transfer to other stores.