Dollar General announces corporate layoffs
Dollar General 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. Substantially all of the eliminations are effective immediately.
October 14, 2015
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.
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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.