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Investing.com -- Kohl’s (NYSE:KSS), the American retail company, is set to reduce its corporate workforce by approximately 10%, according to a report from the Wall Street Journal. This decision comes two weeks after its new chief executive officer, Ashley Buchanan, took the reins.
The reduction in workforce will primarily be achieved through the elimination of unfilled positions, while the remaining cuts will be from roles at its headquarters in Menomonee Falls, Wisconsin. The exact number of jobs to be cut is still unclear.
In addition to these workforce cuts, Kohl’s recently announced plans to close 27 underperforming stores and an e-commerce fulfillment center located in San Bernardino, California, the report noted.
The majority of Kohl’s employees work in its stores. In 2023, the company employed a total of 96,000 people.
The new CEO, Ashley Buchanan, who was previously the head of the crafts retailer Michaels and spent over a dozen years at Walmart (NYSE:WMT), took charge earlier this month after her appointment in November.
Over the past year, shares of Kohl’s have seen a decline of 53%.
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