Kohl's
"This reorganization in our business will empower decision-making, reduce management layers, streamline communications and drive greater efficiency in many areas of our business," said Jen Johnson, Senior Vice President of Communications at Kohl's. "The departures include removing a layer of regional store leadership roles and positions, restructuring teams in our merchant organization and changes to other positions in our corporate offices," said Johnson. "The organizational changes we've made are driven by the evolution of our strategic business priorities to create a more agile and empowered organization to support our long-term sustainable growth."
This move by Kohl's doesn't come as a complete surprise. For one, competition with the online retail space, particularly e-commerce giant Amazon
Further, some e-commerce retailers have been restructuring and cutting jobs too. Walmart's
At this point, Kohl's will need to continue to innovate, work with digital trends, and markedly differentiate itself from other department store brands in order to stay afloat and get ahead.
With more than 1,100 stores in 49 U.S. states and roughly 130,000 total employees, Kohl's has a current market capitalization of $3.88 billion.
- https://www.businessinsider.com/kohls-layoffs-250-jobs-reorganization-2020-2
- https://www.cnbc.com/2020/02/12/kohls-to-lay-off-250-workers-as-part-of-restructuring.html
- https://www.usatoday.com/story/money/2020/02/12/kohls-layoffs-around-250-jobs-cut-corporate-restructuring/4741643002/
- https://www.businessinsider.com/kohls-discounts-celebrities-helped-grow-before-struggles-2019-11
- https://www.pws.io//walmarts-online-retailers-see-2-billion-in-losses
- https://www.pws.io//macys-restructuring-plan-means-125-store-closings-and-thousands-of-layoffs