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Story summary
- Saks Global, parent of Saks Fifth Avenue and Neiman Marcus, is in bankruptcy protection.
- This has led to significant layoffs and store closures.
- Former chairman Richard Baker, of Saks Global, says external factors, like economic strain, contributed to the decline.
- An employee from the Saks.com photo studio described abrupt layoffs and poor communication.
- Saks Global aims to emerge stronger from bankruptcy, but uncertainty remains for employees and vendors.
