Saks Global to cut around 5% of its US corporate staff
Saks Global is laying off about 5% of its US workforce, Bloomberg reported, as the department store continues to integrate its recent acquisition of Neiman Marcus
The layoffs will affect employees in the finance, legal and operations departments, according to an internal memo sent to employees by Saks Global and seen by Bloomberg News. There will be no staff changes at Bergdorf Goodman.
Saks Global is the new entity that was created last year to house Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue, and Saks OFF 5TH.
“There will be additional changes to our teams as we continue to integrate our business,” Saks global chief executive officer Marc Metrick wrote in the memo.
Bloomberg also reported that a Saks Global spokesperson said the company was “continuing the integration process following our recent acquisition of Neiman Marcus Group by consolidating functional leadership, clarifying key decision makers and beginning to simplify our organizational structure.”
Image Credits: nationaljeweler.com
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