Report: Saks to cut jobs at NYC flagship

New York City Saks has informed about 116 workers at its flagship Fifth Avenue store that they would lose their jobs by the end of January, the New York Post reported, citing sources.

The job cuts, which are in the cosmetics and fragrance department of the Manhattan store, are part of Saks' move to let brands such as Chanel, Lancome and Clinique fully staff the counters themselves, the Post said.