In the latest fallout from Campeau Corp.’s...

In the latest fallout from Campeau Corp.’s takeover of Federated Department Stores, the retailer’s Lazarus department store unit said it will lay off 1,200 people. Federated said the Lazarus layoffs were because of an uncertain retail environment and were needed to streamline operations and to “service the financial cost of the purchase of Federated.” Six hundred positions will be cut from Lazarus’ central organization and 600 from its 43 stores and regional organization. Cincinnati-based Lazarus has 15,000 employees.