By Bill Zeeble, ËÄ»¢Ó°Ôº
http://stream.publicbroadcasting.net/production/mp3/kera/local-kera-814948.mp3
Dallas, TX – Neiman Marcus will slash nearly 400 workers from its operations as a result of this historic economic downturn. ËÄ»¢Ó°Ôº's Bill Zeeble has more.
In past recessions, some luxury goods merchants escaped the worst of the bad economy because wealthy clients maintained a lot of their wealth. Things are different this time.
High-end retailer Neiman Marcus, which also owns Bergdorf Goodman and the online and catalog operation Neiman Marcus Direct - is cutting 375 positions nationwide. Vice President of Corporate Communications, Ginger Reeder, says close to a hundred jobs will be lost in the Dallas area.
Reeder: Things cycle through and we need to make sure we make it through this cycle as effectively as we can. This move we regret the most, hardest to make.
Reeder said the recession accelerated the ongoing corporate process to become more efficient. Pink slips were handed out beginning Monday.