NEW YORK — Sears, Roebuck & Co. began laying off workers two weeks ago, and the bloodletting could result in more than 1,000 job losses.

One former employee who left the company a week ago said that the layoffs are part of a strategic initiative referred to internally as a “targeted headcount reduction.” According to the source, the cuts will continue through August. He pegged the total reduction in the workforce from both the Hoffman Estates, Ill., headquarters and various distribution centers to be between 1,000 and 1,500 jobs lost by the end of the summer.

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