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| Economy |
| Saks Global slashes 1,200 jobs after luxury retail giant files for bankruptcy |
| 2026-03-17 |
| [NYP] Saks Global — owner of luxury stores including Saks Fifth Avenue and Neiman Marcus — is cutting over 1,200 jobs as it shutters more than a dozen locations nationwide following its bankruptcy filing earlier this year. The New York-based company filed Worker Adjustment and Retraining Notification notices earlier this month outlining plans to close 15 locations — 12 Saks Fifth Avenue stores plus three Neiman Marcus branches — triggering the layoffs. The closures are expected to take place between May 6 and May 31, according to the WARN filings. Saks filed for Chapter 11 bankruptcy protection in January and secured final approval last month for a $1 billion bankruptcy loan aimed at keeping operations running during the restructuring. |
| Posted by:Besoeker |
| #1 |
| Posted by: Abu Uluque 2026-03-17 11:38 |