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Sears is firing 200 more people

  Sears is closing its last store in Chicago

Sears is eliminating about 200 jobs, including 150 at its headquarters in Illinois.

The company's chief executive, Eddie Lampert, announced the changes in a June 26 letter to employees. CNBC reported for the first time of the dismissals early Wednesday.

"Your leadership team and I want you to know that these decisions were not taken lightly or easily," Lampert wrote.

The dismissals were made effective immediately, with the compensation granted until August 25. Sears has already fired some 220 people from its corporate offices earlier this year.

Related: The last Sears in Chicago is closing

The cuts occur when the once iconic retailer struggles to stay afloat.

"Changes like these are a necessary part of creating a stronger organization at this time of industry disruption," Lampert wrote in the June letter.

Sears has lost $ 11.2 billion since 2010, its last profitable year. Sales have plummeted by 60% at that time. Sears Holdings ( SHLD ) which operates the Kmart and Sears brands, had a total of 3,500 stores in the USA. UU When it merged the two brands in 2005. It now has less than 1,000

The company said it employs about 89,000 full-time and part-time workers in the United States and the US territories. UU In early February.

Many of the remaining Sears and Kmart stores are not even owned by Sears. Discouraged by cash, the holding company has sold much of its real estate and leased the properties where it still operates stores.

The last Sears in Chicago closes on Sunday.

– Chris Isidore of CNN contributed to this report.

CNNMoney (New York) First publication on July 11, 2018: 4:53 PM ET


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