Saks Global cuts 640 corporate jobs amid bankruptcy proceedings
Saks Global, the luxury retailer, is eliminating 640 corporate positions as it navigates bankruptcy. The layoffs represent 16% of its corporate workforce but less than 4% of its total employee count of roughly 17,000. The cuts are part of restructuring efforts during Chapter 11 proceedings.
Key facts
- Saks Global is cutting 640 corporate jobs.
- The cuts represent 16% of the corporate workforce.
- The retailer has roughly 17,000 total employees.
- The layoffs affect less than 4% of total staff.
- The cuts are part of bankruptcy proceedings.
Entities
Institutions
- Saks Global
Sources
- Quartz —