Saks Global to lay off 5% of its workforce

Saks Global is cutting 5% of its workforce as part of its plan to streamline business operations, according to Retail Dive.

Approximately 150 jobs across finance, legal and operations departments will be slashed.

The luxury retailer had previously downsized in July 2024 after acquiring the Neiman Marcus banner for $2.7 billion and consolidating the brands under its portfolio to form Saks Global.

A spokesperson for the company said to Retail Dive: “We are continuing the integration process following our recent acquisition of Neiman Marcus Group by consolidating functional leadership, clarifying key decision makers, and beginning to simplify our organizational structure.”