Dollar General (NYSE:DG), a discount retailer, said it is eliminating 255 corporate positions, including about 115 vacant jobs, as part of a restructuring plan aimed at cutting costs.
All of the cuts are effective immediately, the Goodlettsville, Tennessee-based company said in a statement on Tuesday. Store-level jobs won’t be affected.
Dollar General expects a third-quarter pretax charge of about US$7 million for the move.
Dollar General has expected fierce competition as competitors Dollar Tree Inc. and Family Dollar Stores Inc. merged in July and Wal-Mart Stores (NYSE:WMT) decided in February decision to raise hourly pay.
Dollar General has more 12,198 stores, while Dollar Tree's brands have more than 13,864.
Shares were unchanged at US$67.96 at 9:31 a.m. in New York. The stock is down 3.9% this year.