Sears Lays Off 220 At Headquarters

Sears Holdings on Wednesday laid off 220 employees at its corporate headquarters in Illinois. CNBC reports that the layoffs are effective immediately. The news comes weeks after the retailer announced another round of store closings.

The closings are part of Sears' continuing "strategic assessment" as the company tries to eliminate unprofitable locations. On Long Island, a Sears store in East Northport closed last year and one in Hicksvillewill close this April. Sears still has stores in Garden City, Massapequa, New Hyde Park, Valley Stream and Lake Grove.

Wednesday's layoffs will affect numerous roles across the organization, a spokesman told CNBC, and the company will offer severance packages and job transition assistance to eligible employees.

AP Photo/John Minchillo, File