Which companies are making the biggest cuts?
Posted October 06, 2018 06:29:11 Many of the companies that make consumer products and apparel products are cutting back on their workforce, with some companies announcing layoffs in the hundreds of thousands.
The companies with the biggest drops include:American Eagle Outfitters, which has closed 19 stores in the past six months, including a Chicago store, the largest retailer in the nation; Sears Holdings Corp., which has laid off an estimated 20,000 workers in the last six months; and Kmart Corp., with 12,000 laid-off workers in six states.
A spokesman for Sears said that the company has reduced staffing levels at its stores and expects to have full staffing levels in the coming months.
Sears Holdings said it expects to reduce the number of workers in some stores by 50 percent, while Kmart said it will reduce the size of its workforce by 50,000 employees.
American Eagle, which employs more than 4,000 people in Chicago, said it had a staff reduction of more than 300 people over the past year.
The company said it is making a series of job cuts to maintain its workforce.
American Eagle Outfitter, which sells fabric, is making about a million cuts in its Chicago, Indiana and Ohio stores in addition to a reduction of 2,500 employees in Ohio.
American Express has also cut more than 200 jobs at its Ohio stores.
Kmart said last month that it had about 100 layoffs at its Toledo, Ohio, stores.
Sears said in September that it would cut its workforce in some of its stores by about 5,000, but a company spokesman said the reduction was more than double that.
Kohl’s Corp., the world’s biggest retailer of home furnishings, said in a statement that it was reducing its workforce at its headquarters in Columbus, Ohio.
Kmart had about 1,600 layoffs last year.
American Express said it was making more than 500 layoffs at some of the stores it operates.
A spokeswoman for American Express said the company is reducing its number of people working at the company’s stores by more than 1,000.
Sears has said it plans to cut its employee base by about 500 workers at its Columbus stores and 1,400 at its suburban stores in Ohio, Illinois and Michigan.
American Family Insurance, which operates more than 12,500 health care and disability services and is based in the Chicago area, said last week that it planned to reduce its workforce of about 2,000 by 2020.
Sears, which runs the largest insurer in the U.S., said last year that it plans on reducing its staff by about 1.5 million.