Kmart Begins Fla. Layoffs

St. Petersburg, Fla. More than 240 Kmart employees are being let go across Florida, according to the South Florida Business Journal. The company notified the state this week that it was laying them off and shutting stores in St. Petersburg, Winter Park and Coral Springs, where 78 people were being let go.

Kmart’s parent company, Sears Holdings, on Feb. 26 reported that fourth-quarter revenue fell 12%, to $13.3 billion from $15.1 billion. The company said it plans to close 24 underperforming stores.