To close the $2.7 billion acquisition of Neiman Marcus and create a $10 billion luxury giant, Saks Global, led by executive ...

Women’s Wear Daily reported that Saks Global will lay off hundreds of employees this week in an effort to reduce duplicate roles and lower costs after its December acquisition of Neiman Marcus Group.

The department store chain is shifting its focus to “other strategic priorities,” leaving one less bidder for the three licenses.

Saks is the first casino bidder to drop out of the process since Vornado Realty Trust abandoned its own proposal for the ...