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Neiman Marcus trades 3 percent of workforce for cash to invest in expansion

American luxury retailer Neiman Marcus started October by laying off 500 corporate and support staff, therefore eliminating the retail jobs of about 3 percent of its workforce of 16,000 staff, as it tries to cut costs to pay for new stores and acquisitions. “Even as we adjust our course, our mission is unchanged,” stated the company´s top...

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