Nordstrom Cutting Jobs, Hours, Prices

Nordstrom Inc. (Seattle) has announced that it will cut jobs across the company and reduce hours for some sales employees.

The company would not disclose how many jobs are being cut. A spokeswoman said the reductions would affect employees at stores across the country, but it's not yet clear whether corporate jobs would also be affected. “We are looking at every aspect of the business,” she said.

While the retail industry has weakened since the terrorist attacks of September 11, Nordstrom was already struggling with mostly flat sales and had been looking at ways to cut costs. It has added a fourth major sale to its annual schedule, beginning September 28 and running through October 8, in which it said it plans to discount fall merchandise by 33 to 60 percent.