Nordstrom plans to cut between 350 and 400 jobs by the end of Q2 this year.
The company stated that it is making several changes in its operating model in order to continually evolve with the expectations of its customers, to respond to the current business environment, and meet long-term growth plans.
Go deeper with GlobalData
The job cuts will be made primarily in its corporate centre and regional support teams.
In an effort to minimise impacts on current employees, the company will first look at options such as closing unfilled open positions.
Employees whose roles are eliminated will receive separation pay and benefits.
These changes are estimated to generate savings of approximately $60m to the firm in the current fiscal year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAmong the initiatives taken in its new operating model include strengthening of its e-commerce and digital initiatives, as well as bolstering supply chain and marketing programmes.
Nordstrom co-president Blake Nordstrom said: "We will never change our commitment to serving customers, but recognise how they want to be served has been changing at an increasingly rapid pace.
"Meeting our customers’ expectations means we must continually evolve with them. We see opportunities to create a more efficient and agile organisation that ensures we’re best positioned to achieve our goals."
The financial impact of these strategic initiatives has been included in its financial outlook provided on 18 February.
