The Seattle Times reports this morning that "Nordstrom is laying off thousands of workers, including a large number from its corporate operations in Seattle, as it copes with pandemic-related losses." The job cuts could be as high as 20-25 percent nationally, which would be somewhere between 13,000 and 17,000 people, the story says.
The Times says that "a Nordstrom spokesperson acknowledged Monday that the Seattle-based retailer is 'realigning and reducing our workforce to support our market strategy,' without giving any specifics."
- KC's View:
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Tough times, but my sense of Nordstrom is that more than any other department store company, they seem to have an understanding of how consumers are changing and being enabled and empowered by technology. Which is why they've made so many investments over the years, developing an internal expertise that allows them to adapt to a new reality.
Of course, the pandemic has accelerated things, and so it has to make adjustments faster than expected. But I tend to think that at some point, Nordstrom will be held up as an example of making it work.
