Kmart to Restructure Stores

Troy, MI, January 6, 2006--Kmart said it plans to cut an unspecified number of jobs at some of its 1,400 stores as part of a company-wide restructuring. Company spokesman Chris Brathwaite said the reductions were being made at some stores throughout the latter half of this week. He added, though, that other stores would see an increase in jobs. Some stores would see no impact at all, Brathwaite said. The company would not discuss how many net jobs it will end up with once the restructuring is complete. Kmart stores now employ 133,000 people. "We're not quantifying the impact," Brathwaite said. "This is a review of Kmart's store organization, a review that was conducted over the last couple of months." Brathwaite said the company is not providing information on individual communities. All personnel moves will be disclosed to employees over the next several days, but won't be announced publicly.