Charlotte-based Belk has laid off about 40 employees at its headquarters on Tyvola Road.
News of the corporate job cuts comes almost a year after the department store chain sold itself to Sycamore Partners, a New York-based private equity firm. The retailer’s management has said the company will maintain its headquarters in Charlotte.
“We have restructured several groups within our corporate office that resulted in a small reduction of associates,” spokeswoman Jessica Graham said.
Graham said the company combined together similar functions and reduced inefficiency to better support Belk stores. She declined to say from which departments the local employees were cut, though.
Since Belk’s change in ownership, the company has undergone changes at both the corporate and store level.
The company’s CEO, Tim Belk, retired in June. Johnny Belk, Tim’s brother and former chief operating officer, left the company in January, as did Belk’s general counsel, Ralph Pitts.
Belk has said the chain will continue to trim underperforming stores, while also adding or expanding stores in profitable markets.
Since the sale, Belk has also signed a 15-year lease on its property at 2801 W. Tyvola Road. The headquarters include an east and west portion that were owned by two different property managers until earlier this year, the Observer reported in January.
As of April, Belk employed about 1,400 people at its corporate headquarters.