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Offbeat Sears lays off 200 corporate workers as sales tumble

23:05  11 july  2018
23:05  11 july  2018 Source:   businessinsider.com

Four members of Thai soccer team rescued after more than two weeks in flooded cave

  Four members of Thai soccer team rescued after more than two weeks in flooded cave Rescue efforts were ongoing for the 12 boys and their coach who have been trapped since June 23 by floodwaters in a dark, six-mile-long cave system in northern Thailand.(Pictured) A military helicopter carrying rescued schoolboys takes off near Tham Luang cave complex in Thailand, on July 8. Some of the boys among a group of 13 trapped in a flooded Thai cave for more than a fortnight were rescued on July 8, authorities said, as elite divers raced to save the others.

Sears laid off 200 corporate employees in June, the company told Business Insider on Wednesday. The layoffs , which took effect June 26, came on the Sears has been looking for ways to cut costs following years of crippling sales declines. The company has cut its store count in half within the past

About 200 workers were let go last month, CNBC has learned. More layoffs have taken place at the corporate offices of Sears Holdings in Hoffman Estates, Illinois. Sears ’ sales continue to plummet as its stores deteriorate and shoppers opt to buy goods online or elsewhere.

Sears laid off 200 corporate employees in June, the company told Business Insider on Wednesday.

The layoffs, which took effect June 26, came on the heels of the company's announcement that it would close nearly 80 Sears and Kmart stores in August and September.

About 150 of the workers impacted were based at the company's headquarters in Hoffman Estates, Illinois.

In a memo to employees dated June 26, Sears CEO Eddie Lampert said the cuts were part of an effort to streamline operations and return the company to profitability.

"Having coworkers and friends leave the organization is never easy, but making changes like these are a necessary part of creating a stronger organization in this time of industry disruption," Lampert wrote. "We continue to fight every day to improve the performance of Sears Holdings —and you are central to that effort."

Thai cave rescue options include possibility of 'buddy dive'

  Thai cave rescue options include possibility of 'buddy dive' Thai officials ruled out any immediate attempts to evacuate 12 football players and their coach trapped deep inside a system of caves in northern Thailand on Saturday despite concerns over low oxygen levels underground and poor weather forecasts.Thai divers carry supplies as rescue operations continue for the trapped soccer team.

Sears , which has been shuttering stores and selling off assets to prop up its finances in the midst of sliding sales , said Wednesday that it is laying off roughly 220 employees at its corporate offices "effective immediately.'' The job cuts are pegged to the one-time retail giant's turnaround plan, which

Sears Holdings Corp. says it's laying off 220 workers primarily at its headquarters in Hoffman Estates, Illinois as it struggles to turn around its ailing business. Sears says it's offering severance and transition assistance to those workers who are eligible.

Sears has been looking for ways to cut costs following years of crippling sales declines. The company has cut its store count in half within the past five years to 894 stores as of May 5, down from 1,980 stores in 2013.

Sears has also been systematically trimming its corporate workforce. The company cut roughly 220 corporate jobs earlier this year, following two rounds of cuts last year totaling more than 500 jobs.

Sears disclosed last year that its corporate headcount at Hoffman Estates and a nearby satellite office had fallen to under 4,250 workers, from 5,444 employees in 2015.

Here's Lampert's full memo to employees:

As we work to advance our strategic transformation, we all know that we must return the company to profitability in order to retain the confidence of our constituents. This means continuing to look at ways to streamline our operations while staying focused on our Best Members, Best Categories and Best Stores.

Over 100 'chimneys' drilled into mountain in bid to reach trapped boys

  Over 100 'chimneys' drilled into mountain in bid to reach trapped boys More than 100 chimneys are being drilled into the mountainside in a frantic bid to reach a Thai youth football team trapped in a cave complex below, the head of the rescue mission said Saturday. The unprecedented rescue effort is attempting to establish new ways to extract the boys from above, if the underground chambers flood and it is deemed too risky to evacuate the team by diving out through the submerged passageways."Some (of the chimneys) are as deep as 400 metres...

Sears laid off 250 employees at its corporate headquarters in Hoffman Estates, Illinois, last week and will close another round of Sears and Kmart stores before the end of the year, Business Insider has learned. Sears ' parent company, Transform Holdco, announced the layoffs in a notice filed with the

Sears Holdings on Wednesday laid off 220 employees primarily at the company's corporate headquarters in Hoffman Estates, Illinois, effective Coming off a disappointing holiday season, Sears is looking for ways to drive sales and is considering further monetizing some of its other assets

Today, we made the very difficult decision to eliminate a number of positions across various business units and roles. While these changes didn't impact a large percentage of our workforce, your leadership team and I want you to know that these decisions were not taken lightly or easily. We are grateful for the contributions of these associates and we are committed to treating them with compassion and respect during this challenging time, including offering severance and outplacement assistance to make career transitions easier for all who are eligible.

Having co-workers and friends leave the organization is never easy, but making changes like these are a necessary part of creating a stronger organization in this time of industry disruption. We continue to fight every day to improve the performance of Sears Holdings — and you are central to that effort. I ask everyone to remain focused on the OKRs you set for the quarter as your goals can have a direct impact on our company’s transformation. By building meaningful relationships with our members — who look to us for our brands, our services and convenience — we can drive sales and put our company on the right path for the future.

Thank you for your continued commitment to Sears Holdings.


Rescuers gear up for final push to save remaining five from Thai cave .
Rescuers resumed preparations on Tuesday for a third rescue operation deep into a cave complex in northern Thailand to free four remaining boys and their soccer coach in a race against time and monsoon weather. Four more of the boys were carried on stretchers out of the labyrinthine Tham Luang cave on the Myanmar border on Monday, bringing to eight the total number brought out so far after two rescue pushes in successive days.

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