Nordstrom lays off hundreds in Seattle
Nordstrom laid off 521 employees in Seattle beginning May 8, according to Worker Adjustment and Retraining Notification the company filed with Washington state's Employment Security Department. Nordstrom confirmed some were among its corporate team.
The layoffs are part of an effort by the Seattle-based company to reduce non-occupancy related overhead costs by about 20% annually, in line with its plan to save about $700 million to $750 million this year.
Covid-19 has hit the retailer hard. It reported a $521 million net loss during the first quarter as a result of pandemic-related closures.
As part of the cost savings plan, Nordstrom permanently closed 16 full-line stores and three Jeffrey boutiques. The company also reduced salaries for many executives and eliminated salaries for co-presidents Pete and Erik Nordstrom and the board of directors for a portion of the year.
https://www.bizjournals.com/seattle/news/2020/07/17/nordstrom-lays-off-hundreds-in-seattle.html
