September 25, 2019
According to the Framingham Source, the 200 layoffs occurred on Sept. 9 and 10. It was unknown if the layoffs occurred at the company’s headquarters, nationwide or worldwide.
Talking to the Framingham Source, Framingham Mayor Yvonne Spicer told the news outlet that she was “aware of the layoffs” and had “received Staples’ statement.”
In April 2018 The Recycler reported that Stapes let 177 staff go and another 50 employees exited the company in May 2018.
Staples was purchased by Sycamore Partners in 2017 for $6.9 billion (€6.27 billion). In March 2019 the private equity firm began a recapitalisation of Staples hoping to recoup around $1.6 billion (€1.41 billion) that will leave the supplier with around $1 billion (€884.1 million) of additional debt.
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