Kohl’s slashes 15% of corporate positions
MADISON, Wis. (WMTV) - Kohl’s cut their corporate positions by 15% on Tuesday in an effort to save money amid the financial impact COVID-19 has had on their business.
The Menominee Falls-based company believes these cuts will save them about $65 million annually according to a filing from the U.S. Securities and Exchange Commission.
Kohl’s added they estimate pre-tax costs to be about $23 million and to be recorded in the third quarter of 2020.
When grouped with the company’s February restructuring actions, they think they will be able to save over $100 million annually in total.
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