Thread regarding Neiman Marcus Group layoffs

Loss was big- company retrentching

So they lost 531 milliion, My guess was 650 million but over guessed. Neiman marcus s---s stated on facebook 529 million they were much closer and I am wowed by their near accuracy...

Despite this they paid the Board more....... see my post below....

i read their annual report. they paid millions to have consulting firms tell them how to lay off off more employees for efficiency... Their thinly veiled new initiative about Digital is a precursor to more local employees getting their severance.

disgusting how many they harm...

more mass layoffs are very likely...

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| 2905 views | | 4 replies (last August 29, 2018) | Reply
Post ID: @OP+PHLc979

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The new talk about digital is too little, too late.

KK should have had this on her horizon back in 2000/2001.

The digital ship has left the port, and we missed the boat

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Post ID: @5csuc+PHLc979

Claiming to focus on digital is foolish at best...of course it was smoke and mirrors....

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Post ID: @cwas+PHLc979

The new "Digital Initiatve" is BS because if you read closely to the announcement, it's all the stuff they've already done the past few years. It's just a spin to sound like it's a fresh idea when it's not. NM is on capital spend freeze.

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Post ID: @8voe+PHLc979

just read the Dallas news article....the quotes really hint on them wanting to eventually close the Last Call brand, seems like more Last call closures are likely in the near future. I'm sure Q1 financials will be a complete mess too, with the lost sales from stores closures due to huricane irma and harvey

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Post ID: @whf+PHLc979

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