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Category: ECONOMY

Under Armour announces LAYOFFS as sales SLIDE

More bad news for retail. According to this CNBC report Under Armour has announced hundreds of layoffs as sales slide.

Under Armour plans to cut about 2 percent of its global workforce as it restructures its business in the face of slumping sales.

On Tuesday, the sports apparel company reported a narrower-than-expected second-quarter loss, but shares fell as the company trimmed its sales forecast for the year.

Best Buy’s Geek Squad to Eliminate 399 Jobs

Best Buy’s Geek Squad is the latest to announce layoffs. According to this Fortune report the company will be eliminating 399 jobs.

Best Buy is eliminating 399 Geek Squad positions, but is expected to offer those employees positions within the company.

The affected positions come from Geek Squad’s “Covert Team,” who work remotely to provide technical support to customers. Best Buy says it is transitioning many of them from remote agents to roles in stores or making house calls.

Neiman Marcus to cut 225 jobs, assess Last Call’s future

Neiman Marcus is in BAD shape. According to this Dallas news report the company will be laying off 225 and reevaluating the future of their discount imprint ‘Last Call’.

Neiman Marcus said Wednesday that a reorganization of its business to reflect changing customer shopping habits will include a reduction of its workforce. The Dallas-based retailer also said it’s assessing its Last Call outlet division.