Neiman Marcus Group (Dallas) is poised to lay off nearly 5 percent of its workforce, which translates to roughly 500 jobs. The luxury department store retailer unveiled those across-the-board cuts in a news release on three changes it is making within its management ranks.
NMG says the pink slips part of a “strategic realignment to accelerate high value luxury customer growth.” The company also said it has “identified open roles to best support its operating model going forward, which will be filled based on strategic business needs.”
This is the latest of several layoff rounds the retailer has undertaken in recent years to remain competitive in the luxury arena.
Among those losing their job in the just-announced cuts is Bob Kupbens, the group’s Chief Product & Technology Officer, who will “transition out of the organization,” according to the news release.
In addition, the company said it is making the following management shifts:
* Darcy Penick, President of NMG’s Bergdorf Goodman unit, will assume group-level leadership of the parent company’s Product & Technology organization.
* Ryan Ross, President, Neiman Marcus, will lead Customer Insights for the group.