Remember when Staples was the crown jewel of Mitt Romney’s business experience? It was the one example he could point to where he actually helped create new jobs rather than destroying them in leveraged buyouts. Well, even Staples isn’t looking so hot these days.
Staples will close up to 225 stores in North America by the end of next year as it seeks to trim about $500 million in costs annually by 2015.
The nation’s largest office-supply retailer said Thursday that nearly half of its sales are now generated online, so it will aggressively cut costs to become more efficient.
Company shares dropped more than 10 percent before markets opened.
That’s a lot of lost jobs. Thanks, Romney.