Sears Holdings continues to achieve significant progress in our restructuring program, with actions taken in 2017 to realize $1.25 billion in annualized cost savings. Those savings were achieved through simplification of our organizational structure, the streamlining of operations, reducing unprofitable categories and the closure of under-performing stores. As a result of these actions, in addition to other liquidity and strategic actions, we made meaningful progress in our efforts to improve our financial position and to sharpen our operating focus.
Today, as we continue toward our goal to return the company to profitability, we have made the difficult decision to eliminate approximately 220 positions at our corporate offices, including our Hoffman Estates support center, effective immediately. Positions in various business units and roles across the organization were impacted. We do not take these decisions lightly, but they are a necessary part of our efforts to transform the company. As always, we are committed to treating associates with compassion and respect during this difficult time. Those who were eligible were offered severance and outplacement assistance to make their career transition easier.
I want to thank all of you for your continued commitment to improving the performance of our company. We remain intensely focused on becoming a more competitive retailer by building productive, beneficial relationships with our members, increasing our emphasis on our most profitable businesses and expanding the reach of our major brands. With the support of our associates, vendors, investors and other key stakeholders, we expect that the actions we have announced over the last couple of weeks will accelerate these efforts.
Eddie