CHESAPEAKE, Va. — More than 50 associates are being let go at Dollar Tree's headquarters in Chesapeake, the discount retailer confirmed to 13News Now on Friday.
"Impacted associates were based out of our headquarters in Chesapeake, Virginia, and have been offered support including severance pay, access to COBRA medical coverage, career resources and our Emotional Wellbeing Solutions," a spokesperson said in a statement.
A total of 54 employees were laid off. The Dollar Tree spokesperson said the layoffs were a result of "restructuring and reductions" in the company's corporate workforce.
The announcement comes after the company announced plans to close nearly 1,000 Family Dollar and Dollar Tree stores in the wake of fourth-quarter losses earlier this year.
Dollar Tree also said it would raise the maximum price of items to $7 by the end of this year.
Dollar Tree acquired Family Dollar for more than $8 billion in 2015 after a bidding war with rival Dollar General, but it has had difficulty absorbing the chain.
The Associated Press contributed to this report.
