I am not shocked by Kohl's layoffs. This has been coming at them like a train. When the pandemic hit, they closed their stores temporarily and lost tons of money...so much that they took out a gigantic line of credit to try to stay afloat. Their stock has dropped 53% this year alone (not to mention the slide it's been on for a while already) and they're being torn to shreds by Wall St analysts. Their corporate office is incredibly top heavy with "Sr" this and "Lead" that...everyone wants to have a title but few actually do any work. (I know, I witnessed this BS.) There is a lot of fat and fluff that could be trimmed from upper management (those "executive" salaried folks who speak in buzzwords) to protect the bottom line. Annnnnd, let's face it...there is nothing at Kohl's that you can't buy somewhere else. They are nothing special and their brands are not distinctive. Sorry, Kohl's, you're not RELEVANT...though I know your buzzwordy executives like to yap on and on about how you are. When Kohl's jumped into bed with Amazon, they might as well have quoted Michael Corleone and said, "Keep your friends close and your enemies closer". They grumbled about AZN s—ing their online marketshare all the time, but then they hooked up in hopes of driving foot traffic into their sorry stores since SHE was going to be in-store returning some c-ap from AZN anyway.
That didn't really work and KSS was stuck with AZN's sloppy seconds but no real boost in their sales. They even moved their return counter to the back of the store (it was in back, then in front, now back to the back), in what appears to be Kohl's crying, "Pleeeezzz, buy something from US!" Completely pathetic.
All of the above being said, I feel for people who lose their job, especially during a pandemic, but I can tell you from experience that if you or someone you know got let go in this round of layoffs, good for you, honey! Take the severence package, sign up for unemployment and feel blessed. Kohl's is a toxic, life-s—ing disaster and anyone who escapes is lucky and will be a happier, healthier person because of it.
Kohl's is the Titanic and some day we'll be viewing them on the ocean floor as a pile of rubble.