Staples to Shutter Stores in Major Restructuring

Staples switched into turnaround mode yesterday, announcing plans to shave $250 million in costs by ramping up store closings, investing more in its online and mobile offerings, restructuring its international operations, and making leadership changes. The Framingham, Mass.-based office products company said it will close 15 U.S. stores by the end of the year and cut its overall North American retail square footage by 15 percent over the next three years.