Layoffs in store for Bay area Sears, Kmart
Tampa Bay Business Journal - by Margaret Cashill Staff Writer
Sears Holdings Corp. will layoff nearly 140 employees with the closing of a Sears store in St. Petersburg and a Kmart store in Sarasota around the end of the year.
A Kmart store on Tamiami Trail in Sarasota will let go 50 employees on Dec. 29. Less than two weeks later, a Sears store on Ninth Street in St. Petersburg will let go 89 employees on Jan. 11, said Worker Adjustment and Retraining Notification notices published by the Florida Agency for Workforce Innovation.
Both stores are closing due to underperformance, said Kimberly Freely, spokeswoman for Sears Holdings (NASDAQ: SHLD). These are the only two closings planned for Florida, she said.
The company will offer severance to employees who qualify, Freely said.
With about 3,800 full-line and specialty retail stores in the United States and Canada, Sears Holdings has about $50 billion in annual revenue. The company formed after Kmart and Sears merged in 2005 and is based in Hoffman Estates, Ill.
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