Rent-A-Center Begins Layoffs at Its Plano Headquarters

Plano-based Rent-A-Center said it will cut 250 jobs at its corporate office. That's about 25 percent of its headquarters jobs. The cuts are expected to generate $28 million in annual cost savings, $20 million this year. Rent-A-Center, one of the largest rent-to-own retailers, has had a revolving door of management and shareholders have been pushing for a sale of the company. The company said it's still reviewing strategic and financial alternatives including a sale. It has received offers, the company said.Severance costs will result in a $3 million charge in its first quarter. The stock price was higher in after-hours trading. Twitter: @MariaHalkias  Continue reading...

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