The retailer filed for an IPO in August
Neiman Marcus Group is laying off 500 people, a spokesperson confirmed.
According to the Dallas Morning News, which first reported the story, the cuts are concentrated in the retailer’s Dallas headquarters.
The move comes two months after the company filed for an IPO.
The layoffs are the result of Organizing for Growth, an initiative that aims to “improve the ways we run our business and to accelerate investments in the customer-facing initiatives that drive future growth,” said a statement.