KOHL stock: Kohl's Cuts Corporate Staff Again to Reduce Costs

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Back in February, Kohl's (NYSE:KSS) announced that it was laying off 250 corporate employees in an effort to streamline its management, speed up decision making, and cut costs. Those moves were designed to bolster the retailer's efficiency and improve its competitiveness following a disappointing 2019.

Of course, the COVID-19 pandemic and related disruption to store traffic for discretionary retailers like Kohl's has made maximizing efficiency more important than ever. As a result, Kohl's recently decided to reduce its corporate workforce even more aggressively.