Coronavirus: Office Depot will cut 13,000 jobs, close more stores

“The restructuring plan includes closing and/or consolidating distribution facilities and retail stores and the reduction of approximately 13,100 employee positions by the end of 2023,” the filing said. “The company is still evaluating the number of potential retail store and distribution facility closures, as well as the timing of any such closures.”

Office Depot estimated the restructuring would cost up to $543 million, the Sun-Sentinel reported. The company added that it will save $860 million because of the move, according to the filing.

Through May 2019, the company operated 1,350 Office Depot and OfficeMax stores nationally and employed about 2,000 at its Florida headquarters, the newspaper reported.

Earlier this month, Office Depot withdrew its 2020 guidance, citing global business disruption and uncertainty caused by the coronavirus, CNBC reported.