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Neiman Marcus Lays Off 500 Employees to Cut Costs

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Luxury department store Neiman Marcus said Thursday it is cutting 500 jobs—roughly 3 percent of its 16,000-member workforce—in efforts to reduce costs and help pay for new stores and acquisitions.

According to the Dallas Morning News, these cuts will affect approximately 157 of employees in the company’s Dallas headquarters, which currently employs about 4,800 workers.

Read more at Sourcing Journal.

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