Menomonee Falls, Wis. – Six months after implementing a return-to-office mandate, Kohl’s is cutting approximately 10% of its corporate headquarters staff. Reports indicate that over half of these positions are currently vacant and will not be filled, according to a spokesperson.
In addition to the workforce reduction, Kohl’s recently announced the closure of 27 stores out of its 1,100+ locations, set to take place by April 2025.
The company’s new CEO, Ashley Buchanan, officially took over the role on January 15, 2025, becoming the retailer’s third CEO in just three years. He succeeds Tom Kingsbury, who will remain in an advisory role and retain his board seat until his retirement in May.
As of its fiscal Q3 report in early November, Kohl’s operating income had fallen nearly 27%, with net income dropping 53%. Net sales for the first nine months of the fiscal year also declined by 6%, reaching $10.2 billion. Kohl’s is expected to release its Q4 and full-year financial results in March 2025.
