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Kohl’s slashes 15% of corporate positions

The chain says it expects more customers to shop earlier and take advantage of online shopping.
The chain says it expects more customers to shop earlier and take advantage of online shopping.(Source: Kohl's)
Published: Sep. 15, 2020 at 5:43 PM CDT
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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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