Neiman Marcus makes job cuts

Image: pingping / CC BY-SA 2.0

Neiman Marcus is cutting about 80 jobs as part of its ongoing reorganization. Most are in the company's Dallas offices.

Like many luxury retailers today, Neiman Marcus has been suffering as tourist dollars dwindle and spending and high-end department stores take a hit. The company previously announced it would consolidate some departments and the recent cuts reflect that action.

Roughly 50 of the cuts made this week are the result of the online and store merchandise groups being combined, according to The Dallas Morning News. Additional jobs were eliminated from the alterations staff and in IT.

These are on top of the close to 500 job cuts made in October. CEO Karen Katz has called the spring quarter "challenging" as sales plunged 80 percent. Last winter Neiman Marcus posted its first holiday sales decline since the recession and the second quarter in a row of comparable store sales declines.

An earlier report suggested that the company could be looking for a buyer.

For more:
- see this Dallas Morning News story

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