Sears Holdings (SHLD) laid off about 300 corporate employees Friday, according to a published media report.
The layoffs are another example of the cost-cutting moves retailers are being forced to make as the slowing economy causes consumers to put the brakes on spending.
The report, which
The Wall Street Journal
published on its Web site late Friday, said a Sears spokeswoman confirmed the layoffs. Most of the laid-off employees were based at the company's headquarters in Hoffman Estates, Ill., although some worked at corporate offices in Troy, Mich. and New York City, the report said.
Shares of Sears Holdings closed Friday down $2.77 at $40.92.
This article was written by a staff member of TheStreet.com.