Neiman Marcus Group layoffs, on the record
Every job cut, severance charge and restructuring Neiman Marcus Group reported in its annual reports, 2016 to 2018, quoted from the filings.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 10-K for 2016 | approximately 14,300 | September 19, 2016 |
| 10-K for 2017 | approximately 13,700 | October 3, 2017 |
| 10-K for 2018 | approximately 13,500 full-time employees | July 28, 2018 |
Job cuts, severance and restructuring
Our summaryEliminated about 500 positions across stores, divisions and facilities under the Organizing for Growth review project.
Word for word“In connection with Organizing for Growth, we eliminated approximately 500 positions across our stores, divisions and facilities on October 1, 2015 and incurred $ 10.2 million of severance costs.” 10-K for 2016
Our summaryEliminated positions in fiscal 2017 under the Organizing for Growth cost review, across stores, divisions and facilities.
Word for word“In connection with Organizing for Growth, we eliminated approximately 315 positions in fiscal year 2017 and approximately 500 positions in fiscal year 2016 across our stores, divisions and facilities.” 10-K for 2017
Our summaryThe company closed 14 more Last Call stores to optimize its Last Call store portfolio.
Word for word“In fiscal year 2018, we closed 14 additional Last Call stores in order to optimize our Last Call store portfolio.” 10-K for 2018
Our summaryThe company incurred severance and store closing costs related to Last Call store closures.
Word for word“We incurred expenses related to these store closures, which primarily consisted of severance and store closing costs, of $8.0 million in fiscal year 2018 and $2.6 million in fiscal year 2017.” 10-K for 2018
Our summaryThe company began assessing its Last Call footprint and closed four Last Call stores.
Word for word“During fiscal year 2017, we began a process to assess our Last Call footprint and closed four of our Last Call stores.” 10-K for 2018
| Fiscal year ended | Severance costs |
|---|---|
| 2016-07-30 | $10.2 million |
| 2017-07-29 | $7.2 million |
Neiman Marcus Group has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Neiman Marcus Group’s annual reports (10-K for 2018, 10-K for 2017, 10-K for 2016) and the financial data it files with the SEC, as of 2018-09-18. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.