Companies

Saks Global lays off hundreds of people

Apr 30, 2025 United States

Saks Global, the parent company of Saks Fifth Avenue and Neiman Marcus, has laid off hundreds of employees as part of a plan to consolidate operations as the retailers merge

According to WWD, about 550 employees, or 3% of Saks Global’s workforce, were laid off, including people employed at Saks Fifth Avenue and Neiman Marcus stores and other areas. However, most of the cuts came from the company’s corporate offices at Brookfield Place in Manhattan, Dallas and other locations, where about 300 employees were laid off.

It is understood that the Bergdorf Goodman and Saks Off 5th Avenue divisions have not been affected.

“We are continuing the multi-year integration process following our acquisition of Neiman Marcus Group, including capturing synergies and addressing duplicate and overlapping roles”, the spokesperson said. “As a part of this, we have eliminated certain roles”.

Saks Global was created in 2024 to house Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue and Saks OFF 5TH, following the 2.7 billion US dollars acquisition of Neiman Marcus by HBC, the parent company of Saks Fifth Avenue.

The latest job cuts at the corporate office come on top of a 5% reduction in corporate staff announced in February. A further 500 jobs were cut when Saks recently closed its fulfilment centre in Tennessee.

Overall, the cuts are designed to reduce costs, retain the best talent and enable teams to operate more efficiently in the future. Saks Global wants to reduce annual costs by approximately 500 million US dollars over the next few years.

Image Credits: costar.com

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