I saw an article in the NY Times. It stated ..."
Saks Inc. said late Thursday that it was cutting 1,100 in-store and corporate support jobs, or about 9 percent of its work force, eliminating merit-based wage increases and suspending matching contributions to employee 401(k) plans for at least a year. On Wednesday, Neiman Marcus said it was cutting 375 jobs, or 2.3 percent of its work force."
Looks like it wasnt just Saks, and it will probably follow with more luxury retailers. That is my guess. My heart goes out to Peter. I am not sure if emailing his bosses would help or not.
Decisions are made, etc... Its hard to reverse a decision like that sometimes for just one person.
Cara