Upscale Fashion Retailer Nordstrom Trimming Four Hundred Corporate Jobs

On Monday, Seattle, Washington based upscale fashion retailer Nordstrom said, it will trim four hundred corporate jobs. The tougher retail environment with growing completion and sagging sales has made many companies take this drastic step and Nordstrom will be the latest one to join them.

Most of the jobs to be affected by the company's decision will be at the headquarters and regional offices. The action will be taken by July end and the move is expected to save the company around $60 million.

Nordstrom Cuts Full Year Forecast as Retail Sales Slowdown

Nordstrom Cuts Full Year Forecast as Retail Sales SlowdownOn Thursday, Seattle based Nordstrom Inc, the department store trimmed its full-year forecast. That raises concerns about the slowdown in the retail sector which was also felt when Macy's Inc. also cut its expectations.