Neiman Marcus Eliminates 500 Jobs

Neiman Marcus (Dallas) laid off 500 employees this past Thursday, Oct. 1, to cut costs. The eliminated positions equal 3 percent of the company’s workforce, which totals 16,000.

The Dallas Morning News reports that 157 of the eliminated positions were from the company’s headquarters. The remaining positions were supporting roles, and none of the layoffs affected store personnel. Neiman Marcus CEO Karen Katz stated the workforce reduction will save the company money, which will be reinvested in acquisitions and expansions.