Retail News

Sears may lose tax credits after cutting 400 jobs

Chicago Daily Herald 06/13/2017

Sears Holdings, which announced plans to cut 400 jobs, may be in danger of losing tax credits it receives from the Illinois Department of Commerce and Economic Opportunity. The retailer received income credits worth $15 million over 10 years from the state in 2011 after threatening to leave the state. The latest cuts bring its workforce to fewer than 4,250 workers in the state, which was the required number for it to continue receiving the credits.

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