Neiman Marcus eliminates 375 jobs

Share this article:

Neiman Marcus Inc. cut approximately 375 jobs earlier this week, or less than 3% of its work force, according to a company spokesperson.

The cuts took place across all levels of the business and across all businesses, said spokesperson Ginger Reeder.

Neiman Marcus “has been in the midst of a companywide review of processes and efficiencies,” the completion of which was hastened by the downturn in the economy, she said. Approximately half of the cuts are the result of a reorganization of the multichannel merchant's retail beauty business.

Earlier this month, Neiman Marcus reported that revenues totaled $532 million for the five weeks ended January 3, a 26.4% decrease over the prior year. Comparable revenues at Neiman Marcus Direct decreased 9.2% during the same period.

Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Nielsen Allies With Pointlogic on Cross-Channel Planning

Nielsen Allies With Pointlogic on Cross-Channel Planning

Aim is to develop a "next generation" media planning tool.

If Only Engendering Loyalty Was as Easy as Clicking Your Heels

If Only Engendering Loyalty Was as Easy as ...

Rack Room Shoes combines data, research, and mobile email to deliver a high-heeled digital loyalty program.

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Hub aims to help CMOs deliver on ROI goals by extending customer lifecycles.