Neiman Marcus Announces Second Wave of Layoffs

Retailer cuts another 450 jobs

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    NEWSLETTERS

    Dallas-based Neiman Marcus said Tuesday it is cutting another 450 jobs.

    The luxury retailer said the layoffs are companywide and across all divisions. In addition to the job cuts, salaried employees are taking a pay cut.

    Affected employees will receive severance packages.

    The cuts are in addition to the about 375 jobs Neiman Marcus announced last month it was eliminating, including 100 in North Texas.

    The two waves of cuts have eliminated about 5 percent of Neiman's workforce in North Texas.