Amazon cuts 16K jobs
The e-commerce giant declined to say how much this latest round of downsizing would impact its retail operations.
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Saks Global slashes 16% of its corporate workforce
The latest round of downsizing comes amid the luxury retailer’s bankruptcy and leaves it to focus resources “toward critical capabilities that will drive profitable, sustainable growth,”…
Estée Lauder now expects up to 10K role reductions
The cosmetics company increased its expected role cuts as part of its restructuring effort, with much of the increase in point-of-sale jobs at department stores.
Nike cuts 1,400 jobs across tech, operations
The majority of the layoffs are in the activewear giant’s tech department as it consolidates its footprint and leans into automation.
Macy’s targets another 14 stores for closure
The department store’s downsizing plan is key to its turnaround and will ultimately entail shuttering about 150 locations.
Saks Global expects to exit bankruptcy in June with $1.2B in debt
The luxury retail conglomerate said it would be profitable in three years and that, starting next fiscal year, revenue growth would average 7% annually.