Thread regarding Nordstrom layoffs

40% of Management Positions Eliminated

It is 100% confirmed. Cutting their management by 40%. Many good managers are not staying. It is really Nordstrom's loss. It is super sad especially since they are getting major tax cuts this year since the corporation tax rate is basically cut in HALF! Most managers have until April 7th to make a decision if they are going to stay as a salesperson on commission or take a severance.

They are telling employees that they are focusing more on the web portion of their business and claim that the web portion of their business makes up about 40%. I totally understand that business is changing from retail to online but cutting your management by 40% and expecting the remaining 60% to do the same amount of work with increases is not a good choice by the decision makers. In addition, many customers will shop in store and order online or have the salesperson order online for them. So I am not confident in the online percentage numbers. It is interesting since they are paying out dividends to shareholders in a couple of weeks. Their EPS missed their goal, but overall they still had an increase in sales (4.4%). Many of their financial ratios were positive. Super disappointing in Nordstrom. I hope all of those good people that they are "eliminating their positions" will find other companies to work for and add their value to better those other companies.

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Post ID: @XZrlGNi

4 replies (most recent on top)

Same situation here. Perfect employee, advanced the same way. Terrible!

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Post ID: @XZrlGNi-7hqh

Our daughter was a manager over four departments in a major Nordstrom in our area. She was literally given til 5 PM of the same day to make her decision.

Her options were stepping down two positions or a severance package. She has hit every goal had excellent reviews, great customer experiences and only one issue with her manager where a correction needed to be made. She has done everything asked of her.

She started at The Rack as an entry level employee. She has achieved all of this in just over three years. Seems quite unfair from our perspective.

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Post ID: @XZrlGNi-2abm

Someone suggested Millenials and GenZ don't care about Nordstrom. Clearly, that would be determined by the age and income demographics of your city. I live in Austin, TX where only a fraction of our customers are over the age of 50. Most are upper middle class Gen X, Xennials, and their Millenial and Gen Z kids. We get loads a Millenials and Gen Z shopping with granted account permissions.

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Post ID: @XZrlGNi-2kms

All the tax cuts in the world won't make up for falling sales. Millennials and Gen Z don't care about Nordstrom's.

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Post ID: @XZrlGNi-kpu

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