My support department, which protects this company's funds was completely hack-sawed. I lost my boss and my boss' boss. They've also taken away some of our effectiveness with certain policy changes. Now all of the support departments are completely bogged down, having one person doing the work of two or three people. Let's see how well this goes when you're losing an average amount of $11 million+ from returns and charge backs every year from just one store. Let's see how well we can actually serve our customers with these "initiatives" when moral is so low, tensions have absolutely skyrocketed, and your employees are exhausted
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IPO wont occur
that is crazy..couldn't happen under anyone but corrupt CEO Karen Katz..
I report on the company through my Facebook page Neiman Marcus sucks This truly astounds me.
These lay offs are nothing more than the CEO, CFO's,and corporate greed. No coincidence they needed to make the right "numbers" before the IPOD and the company goes public again. Executives will each make millions as 500 dedicated workers were let go so that the company can "improve how they run their business" and have future growth. Mr Stanley Marcus took pride in the people who worked for the company and value in how they were treated. He understood the importance of customers and employees and knew they were what made the business successful. Word of mouth has real value.
How is eliminating every Loss Prevention Manager and the two most senior and professional LP Directors taking care of the customers? All the store employees are at risk and unprotected as well. The entire LP dept. is gone!
One thing for certain in society today is crime is getting worse. NM eliminated those who are suppose to protect the customers who's credit card accounts were already compromised. Crime never goes away. Continued smash and grabs. Fraud. Theft. Looking out for the customer. Monitoring massive camera systems can't be done with nobody to watch. Protecting profits can't be done with out someone to watch and protect. With no trained staff inventory will shrink. Just wait until the professional shoplifters spread the word NM fired the entire loss prevention management staff in every store. All so Millions can be made before the woman who is running the company cashes out on the IPO and retires shortly after. The entire time 500 ex employees figure out how to house and feed their families!!!!