CHARLOTTE, NC (The Charlotte Observer) — Belk Inc. has eliminated 80 positions at its corporate office in North Carolina.
The Charlotte Observer reports the layoffs at the Charlotte-based business were confirmed Monday.
A restructuring effort had been announced last week.
A statement from the company says affected workers will be offered severance packages and outplacement services.
Belk was founded in 1888 and became the nation’s largest family-owned department store chain. It was sold to a private equity firm in 2015.
Former CEO Tim Belk announced his retirement in 2016, ending 128 years of family leadership of the company.