Nordstom co-presidents’ compensation doubled even as company laid off workers
April 6, 2017
Nordstrom’s three co-presidents – Blake, Erik and Peter Nordstrom – saw their individual compensation packages surpass $5.8 million last year, more than double what they received in 2015, even as the company laid off hundreds of workers. The company justified the compensation packages saying it was “well below the peer median.” Nordstrom cut more than 500 jobs last year as part of a plan to save the company around $60 million.
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