Nordstrom plans to cut between 350 and 400 jobs in a bid to slash $60 million in costs.
Like most American retailers, Nordstrom (JWN) is struggling. When the it reported sluggish summer sales last year, co-president Blake Nordstrom admitted executives couldn't pin down why customers weren't shopping. "We're not economists, we're merchants," he told investors in November.
Also read: Americans are spending like mad again