Dollar General Eliminating More Than 250 Corporate Positions
Restructuring corporate support functions to reduce expenses, improve efficiencies
GOODLETTSVILLE, Tenn. -- As part of a broader initiative aimed at proactively improving efficiencies and reducing expenses, Dollar General Corp. has announced that the company is restructuring its corporate support functions to eliminate approximately 255 positions, effective immediately.
The restructuring includes approximately 115 vacant positions. It will not affect positions at the store level will.
Looking ahead to fiscal 2016, Dollar General expects to continue its expense control and reduction initiative by implementing a more rigorous budgeting process that will target cost savings in specific budget categories.
“Over the last several months, we have taken a hard look at our cost structure and are streamlining our support functions to improve our financial flexibility while positioning us to better serve our customers and to capitalize on long-term growth opportunities. This restructuring should allow us to continue strengthening our market leadership position and deliver long-term value for our shareholders,” said Todd Vasos, CEO of Dollar General.
The company currently projects that it will incur a pre-tax cash expense of approximately $7 million in the third quarter of 2015 relating to this restructuring for one-time severance-related benefits.
Goodlettsville, Tenn.-based Dollar General operates more than 12,198 discount stores in 43 states.