According to yesterday's Dallas News, Neiman Marcus Inc. is cutting about 400 jobs across the country as part of an organizational review which started six months ago. This is slightly less than 3% of the company's workforce. Um, good spin.
While the Dallas-based company was looking at ways to save money, luxury shoppers' drastic reduction in spending "accelerated the urgency" of what had been a normal review process. Some laid-off employees were told Monday, and others found out Tuesday. And there may be more.
Job cuts are happening at the corporate and store levels, and include Bergdorf Goodman in New York and Neiman Marcus Direct, the retailer's Irving-based catalog and Internet operation.
Last week, the luxury leader said sales at Neiman Marcus and Bergdorf Goodman stores fell 31.2% in December.See the Top Ten Summer 2016 Trends for Women Over 40