Sears Holdings Corp.
The news comes as Sears Holdings Corp.’s chairman, the billionaire hedge fund manager Eddie Lampert, has been under intense pressure to turn around its business. He took over as CEO in February 2013.
Two big employers, including one based in the Chicago area, are changing the way they provide health insurance to their workers.
Sears announced Thursday that 100 people will be laid off at its Hoffman Estates headquarters, despite millions of dollars in forthcoming income and property tax incentives.
Legislation aimed at helping poor Illinois families keep more of what they earn was signed into law Tuesday, a month after Gov. Pat Quinn signed companion legislation granting tax breaks and incentives aimed at keeping two big employers in the state.
Sears has released a list of the first 79 stores to close under a plan to shutter 100 to 120 Sears and Kmart locations due to poor holiday sales.
The CME Group and Sears could be closer to deciding whether they will stay in Illinois, after two key tax votes in Springfield Monday.
Sears Holdings Corp. says it is disappointed after the Illinois House of Representatives voted down legislation that would have provided tax breaks to keep the retailer, as well as the CME Group, in the state.
Illinois lawmakers went home Tuesday night after hitting an impasse over a $250 million package of tax relief designed to keep several high-profile companies from leaving the state.
A protest rally in northwest suburban Algonquin drew some 3,000 people, who said continued tax breaks for Sears would be lost revenue for schools in the area.
Sears and Chicago have gone hand-in-hand longer than anyone living today has been alive, and now, the State of Illinois is working hard to keep Sears from moving out of state.