Sears to cut 250 jobs at HQ

Sears is laying off 250 people at its Hoffman Estates, Illinois, corporate headquarters starting at the end of October.

"Affected employees will be placed on a paid administrative leave effective immediately for the time prior to the employment termination date," Sears officials said in a letter to the Illinois Department of Commerce and Economic Opportunity.

The company recently announced another 100 Sears and Kmart stores would close by year's end after a previous announcement that 26 would shutter in October.

Read more from Crain's Chicago Business.