450 Gone From Neiman Marcus
Like Coach, luxury goods retailer Neiman Marcus announced this past week that it will cut 450 jobs and that salaried employees will take a pay cut.
The company also announced that it will announce a loss in the recently completed quarter. Most shocking is that this is the first loss during the Christmas shopping period that anyone within the company can remember.
This past January, the company cut 375 jobs due to plunging sales.