Saks.com is planning to let at least 100 employees go, approximately 5% of the ecommerce retailer’s 2,000-person workforce, according to WWD and other media outlets. Saks.com was split off as an online standalone retailer by parent company HBC in 2021 in partnership with private equity firm Insight Partners.
The retailer did not respond to a request for comment from Retail TouchPoints about the layoffs, but a spokesperson told WWD that “as a matter of company policy, we don’t comment on rumor or speculation.”
Over the past six months, a number of retailers announced job cuts as they seek to right-size themselves in anticipation of a rocky economic road in 2023, including:
- Wayfair announced on Jan. 20, 2023 that it would lay off 1,750 employees, approximately 10% of its global workforce, on top of 870 corporate job cuts in August 2022;
- Bed Bath & Beyond recently eliminated its Chief Transformation Officer role and plans additional job cuts;
- Nordstrom announced plans to lay off more than 200 workers at a Midwestern distribution center in September 2022; and
- 7-Eleven cut 880 corporate jobs in July 2022.