Neiman Marcus Lays off 375 Employees
Neiman Marcus is responding to a company-wide efficiency evaluation by laying off 375 employees this week, with more layoffs likely in the near future as the productivity assessment continues.
UPDATE: On February 24, Neiman Marcus announced they will lay off an additional 450 employees across all levels and divisions this week.
The retailer employs about 16,000 people, and the layoffs within the Neiman's stores, Bergdorf Goodman and NM Direct divisions come after a months-long review. The company has not had a round of layoffs in nearly 20 years.
“This is something we do every five or 10 years, and the negative impact of the economy has accelerated the importance of that effort,” Reeder said. “There could be more layoffs because we are not finished with the company-wide review.”
About half the layoffs are on the cosmetics sales floor because of an organizational change. Brand specialists whose salaries are partly paid by beauty vendors will now be able to ring up sales, which previously were handled exclusively by Neiman’s associates on commission.
The laid off employees will receive severance packages.