Sears Bids Adieu to New York Design Office

Eddie Lampert is not just axing unprofitable stores these days. The hedge fund mogul, who controls Sears Holdings, is shutting the department store’s 154-employee New York apparel design office. The office is slated to close in July, a Department of Labor filing revealed. Sears will move roughly 40 positions to an existing site in San Francisco — the remainder will be cut.