NORDSTROM TO ELIMINATE UP TO 400 JOBS
Seattle-based retailer Nordstrom has announced that approximately 350 to 400 positions in its Corporate Center and regional support teams will be reduced through a phased approach by the end of the second fiscal quarter. These changes are estimated to generate savings of approximately $60 million in fiscal 2016.
In an effort to minimize impacts on current employees, the company will first look at options such as closing unfilled open positions. Employees whose roles are eliminated will receive separation pay and benefits.
The company says that these 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. Other recent initiatives include a new operating model in its Technology group, focused on strengthening its ability to deliver on e-commerce and digital initiative, and proactively addressing opportunities to improve supply chain and marketing effectiveness.
“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, Inc. “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.”
Blake, Your comments should have been more direct and honest and just admit business is disappointing and we have to eliminate up to 400 filled and unfilled positions.
Seems like all facets of the fashion industry do not offer enough job security to obtain or maintain talented people, who would like careers in this industry.