Quick Facts

• Saks Global cut 640 corporate jobs, representing 16% of its corporate workforce but less than 4% of total employees
• Store locations and distribution centers remain unaffected by the latest round of layoffs
• The cuts follow previous reductions in 2025 that eliminated 550 workers as the company works through bankruptcy restructuring

Saks Global has eliminated 640 corporate positions in its latest workforce reduction as the luxury retailer continues restructuring operations following its $2.7 billion merger with Neiman Marcus Group.

The cuts affect 16% of the company’s corporate teams but represent less than 4% of Saks Global’s total workforce of approximately 17,000 employees. Store locations and distribution centers will not be impacted by the reductions.

“As we position Saks Global for future growth as the premier luxury multibrand retailer, we are focusing our resources to ensure we are a profitable business at the service of our customers, brand partners and other stakeholders,” CEO Geoffroy van Raemdonck said in a statement.

The layoffs target corporate headquarters at 225 Liberty Street in Manhattan and remote locations including Dallas. Van Raemdonck noted that while some senior management employees are being let go, there are no changes to the executive team reporting directly to him.

This marks the latest in a series of workforce reductions since 2024. The company eliminated 550 corporate workers in April 2025 and cut another 500 jobs in February 2025 when it closed a fulfillment center in Tennessee.

Saks Global has been working to capture synergies from the late 2024 merger while navigating Chapter 11 bankruptcy proceedings. The company secured $500 million in exit financing from senior bondholders and entered bankruptcy with a $1.75 billion debtor-in-possession financing commitment.

The retailer has also streamlined operations by closing more than 20 stores and reducing its Saks Off 5th chain from 69 locations to 12. Van Raemdonck said sales and inventory results continue to outperform internal plans despite the operational challenges.

“The strategic changes we are making to our corporate structure support the go-forward needs of the business, which will have a smaller operational footprint,” Van Raemdonck stated.

Luxury retail analysts note the sector faces headwinds from rising debt, shifting consumer preferences, and growth in the resale market. Competitors Bloomingdale’s and Nordstrom have gained market share while Saks and Neiman Marcus transactions fell double digits between January 2024 and October 2025.

Read more: Saks Global slashes 16% of its corporate workforce