Nordstrom slashes jobs

Mike Mozart / CC BY 2.0

Nordstrom (NYSE:JWN) is cutting 350 to 400 jobs as the company focuses on improving operations and profits.

The job cuts will primarily be at Nordstrom's Seattle headquarters and among regional support teams, and should be completed by the end of the second fiscal quarter.

Changes to the operating model are part of the company's broader strategic plans to strengthen its foundation for future growth and improve productivity and service, according to a company statement.

Nordstrom recently announced changes to its technology group as it merged two divisions and reduced staff.

"We will never change our commitment to serving customers, but recognize how they want to be served has been changing at an increasingly rapid pace," said Blake Nordstrom, co-president, Nordstrom. "Meeting our customers' expectations means we must continually evolve with them. We see opportunities to create a more efficient and agile organization that ensures we're best positioned to achieve our goals."

Department stores are struggling this year as off-price formats grow, luxury spending declines and millennials' shopping habits continue to make their mark on the retail landscape.

For more:
- see this Nordstrom press release

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