Nordstrom to Lay Off Up to 400 Workers

Beset by fierce online competition, a lackluster retail climate, the costs of rapid expansion and sagging profits of late, Nordstrom on Monday said it expects to lay off 350 to 400 people in a cost-cutting measure aimed at becoming more efficient. The majority of the cuts will come from its corporate headquarters in Seattle, where departments such as marketing, finance, legal and merchandising are all looking at possible cutbacks.