Almost 500 jobs at risk as Saks Global shuts down fulfilment center
Some 450 people are set to lose their jobs as Saks Global announced the closure of its Tennessee fulfilment center. The department store owner filed a WARN notice with the state’s Department of Labor and Workforce last week. The post Almost 500 jobs at risk as Saks Global shuts down fulfilment center appeared first on Global Cosmetics News.
THE WHAT? Some 450 people are set to lose their jobs as Saks Global announced the closure of its Tennessee fulfilment center. The department store owner filed a WARN notice with the state’s Department of Labor and Workforce last week.
THE DETAILS According to a report published by Retail Dive, the US department store owner threatened further closures and layoffs as Trump’s tariff policies threaten to curb consumer spending.
THE WHY? A research note published by Moody’s Ratings, per Retail Dive, reveals that tariffs could be the straw that broke the US department store’s back. “Department stores face operating performance and profitability risks even without the uncertainty of US tariffs, which will aggravate tightening discretionary consumer spending.”
The post Almost 500 jobs at risk as Saks Global shuts down fulfilment center appeared first on Global Cosmetics News.
