Nordstrom Inc. said Tuesday that it plans to cut some 1,500 jobs in the U. S. and the Canada, as well as 1,000 in Canada.
The company said it will cut its U.s. workforce by 5,600 by the end of the year, while Canada’s will be cut by 2,100.
It also said it expects to lay off a further 3,000 employees in the second half of the fiscal year.
The cuts will reduce the company’s workforce by more than half from the previous year, and could cost it as much as $9 billion in lost revenue.
Nordstrom is a division of the American company Under Armour Inc., and is one of the most profitable in the country.
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