Nordstrom to cut 400 jobs
Seattle-based luxury retailer, Nordstrom, plans to eliminate between 350 and 400 jobs as part of a cost-cutting measure aimed at making the business more efficient to enable it to meet long-term growth plans.
The company expects to save about $60 million in cost savings for the 2016 fiscal year.
The majority of the cuts, which will be approached through a phased approach, will come from the company’s corporate office and regional support teams. The changes are expected to be completed by the end of the second quarter.
In an effort to minimise impact on current employees, the company will first look at options such as closing unfilled open positions.
The company previously stated it is continuing to make fundamental changes to serve customers better by leveraging its enterprise capabilities. Initiatives include a new operating model in its Technology group focused on strengthening its ability to deliver on e-commerce and digital initiatives, and proactively addressing opportunities to improve supply chain and marketing effectiveness.
“We will never change our commitment to serving customers, but recognise how they want to be served has been changing at an increasingly rapid pace,” said Nordstrom Inc. co-president, Blake Nordstrom.
“Meeting our customers’ expectations means we must continually evolve with them. We see opportunities to create a more efficient and agile organisation that ensures we’re best positioned to achieve our goals.”
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