Dollar General Corp. said Wednesday that it was eliminating approximately 255 positions in its corporate support office as part of a broader initiative aimed at improving efficiencies and reducing expenses.
Most of the terminations are effective immediately.
“Over the last several months, we have taken a hard look at our cost structure and are streamlining our support functions to improve our financial flexibility while positioning us to better serve our customers and to capitalize on long-term growth opportunities. This restructuring should allow us to continue strengthening our market leadership position and deliver long-term value for our shareholders,” CEO Todd Vasos said in a statement.
The move by the Goodlettsville, Tenn.-based chain is the latest in a string of retail corporate downsizing announced in recent weeks. Wal-Mart Stores, C&S Wholesale Grocers and Southeastern Grocers have all issued layoff notices this month.
Dollar General said it expects to incur a pretax cash expense of approximately $7 million in the third quarter relating to this restructuring for severance-related benefits. The restructuring includes approximately 115 vacant positions. Positions at the store level will not be impacted, the company added.
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