Sears Holdings Corp. has cut 100 jobs from it company’s headquarters at Hoffman Estates, Illinois.
The company also eliminated an additional 15 positions at other corporate support locations, a spokesman said.
The spokesman added, “The company continually seeks to enhance its operational efficiencies and reduce expenses while we manage the strategic needs of the business.…This represents a mix of positions in various departments across the organization.”
He added that the cuts were needed to “transform the company and return it to profitability.”
Former employees affected by the cuts earlier this week will receive severance and outplacement services.
Crain’s Chicago Business first reported on the layoffs.
Sears is expected to report fourth-quarter and full-year results around the end of February.
The company spent a good part of 2014 shedding jobs and stores, as well as raising capital through its Lands’ End spinoff and rights offerings, to increase liquidity needs on the operational front.
In December, the company said the third-quarter loss widened to $548 million from $534 million in the same year-ago period. At the time, the expectations were that a total of 239 stores would close by the end of 2014.
Chairman and chief executive officer Edward S. Lampert said then in a prerecorded phone call to investors that the company was rationalizing its footprint, suggesting that more store closures and job cuts could be forthcoming.
The 115 job cuts are part of the company’s ongoing transformation plans. Sears is likely to provide more clarity on its store footprint when it reports on earnings next month.
After the latest job cuts, there are currently still 5,500 employees at Hoffman Estates. The company comtinues to operate more than 1,800 Sears and Kmart stores combined, with about 700 of them company owned.