Nordstorm Slashing Hundreds Of Jobs In San Francisco – Half Of Retailers Have Left Downtown

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Retailers are fleeing San Francisco.

Nordstrom announced it is closing both of its stores in downtown San Francisco.

This will cost 379 people their jobs.

Fox Business reported:

Nordstrom’s decision to close both its downtown San Francisco stores will reportedly cost hundreds of employees their jobs in another blow to the California city plagued by retail theft, homelessness and a raging drug crisis.

The high-end retailer informed the state’s Employment Development Department it will lay off 379 people when it shutters its San Francisco Centre Nordstrom and Market Street Rack store across the street in the coming months, according to The Mercury News.

The Seattle-based company informed workers earlier this month that it would not be renewing the leases on either location, citing the “dynamics” of the area.

“We’ve spent more than 35 years serving customers in downtown San Francisco, building relationships with them and investing in the local community,” Chief Stores Officer Jamie Nordstrom wrote in a memo to employees. “But as many of you know, the dynamics of the downtown San Francisco market have changed dramatically over the past several years, impacting customer foot traffic to our stores and our ability to operate successfully.”

Half of its retailers have left downtown.

The Daily Mail reported:

A host of major chains, including Whole Foods, Brooks Brothers and Office Depot have also shuttered stores, with a disturbing report showing 95 retailers downtown – more than half the total – have closed since the start of the COVID pandemic.