Saks Global Layoffs: 100 let go as Saks Fifth Avenue, Saks Off 5th, Neiman Marcus merge

What’s happening at Saks Global?

Saks Global is merging key functions of Saks.com, Saks Fifth Avenue stores (SFA), and Saks Off 5th under one corporate umbrella, resulting in approximately 100 layoffs. This move impacts about 1% of the staff, with eliminations across legal, technology, operations, people, communications, and finance teams. Saks Global is a subsidiary of Hudson’s Bay Company.

Official statements and context

Saks’ owner, HBC, recently agreed to a $2.65 billion deal with Amazon, Rhône Capital, Salesforce, and other investors to combine Saks and Neiman Marcus Group under Saks Global. This merger is pending government approval, with the Federal Trade Commission reviewing the proposal to ensure fair competition.

• Saks Global aims to accelerate innovation in the luxury shopping experience, powered by technology and customer-centric strategies.
• The merger will create a combined retail and real estate portfolio, potentially including Neiman Marcus and Bergdorf Goodman
• HBC’s Canadian operations (TheBay.com, the Hudson’s Bay department stores, and $2 billion in real estate) will remain separate.

Executive changes

Marc Metrick, former CEO of Saks.com, will become the CEO of Saks Global. New key executive roles include:

• Mike Hite as Chief Technology Officer
• Rob Brooks as Chief Operating Officer
• Kim Miller as President of Saks Off 5th
• Sarah Garber as Chief People Officer
• Jeff Pedersen as Chief Financial Officer (effective Aug. 12)
• Nicole Schoenberg as Senior Vice President of Communications

Layoffs in Canada

It remains unclear exactly how many HBC or Saks Global employees in Canada will lose their job as a result of this layoff.

Your rights

In Canada, non-unionized employees at HBC/Saks are owed full severance pay when they lose their jobs due to downsizing, corporate restructuring, or the closure of the business.

This applies to individuals working in any capacity — full-time, part-time, hourly, or potentially even independent contractors — in Ontario, Alberta, and British Columbia.

Severance is the compensation provided to non-unionized workers in Canada by their employer when they are terminated without cause, and can be as much as 24 months’ pay, depending on a number of factors.

WATCH: Employment lawyer Lior Samfiru explains why you are still owed severance if you have been downsized on an episode of the Employment Law Show.

Severance offers and deadlines

Before accepting a severance offer, double-check the amount using our firm’s free Severance Pay Calculator. It has helped millions of Canadians determine their entitlements.

In addition to your salary, make sure to factor in any other elements of your compensation (i.e. bonuses, commission, etc.).

If your employer’s offer falls short of what our Severance Pay Calculator says you are owed, it’s very likely that you have been wrongfully dismissed and should contact an experienced employment lawyer at Samfiru Tumarkin LLP.

Non-unionized employees in Canada have up to two years from the date of their dismissal to pursue proper severance pay. An employer’s deadline to sign back a severance offer is not legally enforceable or binding.

LEARN MORE
• Severance pay for provincially regulated employees
• Rights to severance during mass layoffs
• Severance entitlements in a recession

Major layoffs continue

The job cuts come amid a flurry of layoffs in 2024.

Big names, including Intuit, UiPath, Dyson, Vancity, Stifel, WillScot of Canada, Netflix, AmDocs, EXL Service, Best Buy, Relic Entertainment, Ubisoft, Intel, Amazon, and Telus, have pulled out the axe as they continue to navigate challenging economic conditions.

SEE ALSO
• Shell to lay off 20% of deals division, part of restructuring
• Walmart Canada cuts jobs amid restructuring, shift to Spark: Reports
• Where are layoffs happening in Canada?

Lost your job? Talk to an employment lawyer

If you have been fired or let go for any reason, contact the experienced employment law team at Samfiru Tumarkin LLP.

Our lawyers in Ontario, Alberta, and B.C. have successfully represented tens of thousands of non-unionized individuals.

In addition to severance package negotiations, we can assist you on a broad range of employment matters, including:

If you are a non-unionized employee who needs help with a workplace issue, contact us or call 1-855-821-5900 to get the advice you need and the compensation you deserve.