Dollar Tree has announced it will be cutting 370 jobs at the former corporate headquarters of Family Dollar in Matthews, N.C.
Since acquiring Family Dollar in 2015, Dollar Tree has planned to reduce annual expenses by $300 million over three years. The elimination of these positions, 100 of which are currently vacant, is part of the effort to integrate functions through a shared services model.
“This announcement represents another step in the process of integrating our two large organizations,” said Bob Sasser, CEO of Dollar Tree in a statement. “Since completing our acquisition a year ago, we have communicated our plans to utilize a shared services model, leveraging our back office functions to support both the Dollar Tree and Family Dollar business segments.
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“These difficult but necessary actions will enhance our ability to efficiently support our businesses, while achieving our stated synergy targets,” Sasser added. “Our focus continues to be on maximizing our operational efficiencies to drive tremendous value for our customers, while creating long-term value for our shareholders.”
