Around 1,100 employees of Saks Incorporated, which amounts to 9 per cent of total staff of the company might be laid off, as the company is practicing cost cutting in the current weak economy. The job reduction will be seen in those at the corporate and in-store posts, w.e.f January 30, 2009. %% The company expects the economy to be in a weak state for most of 2009. It has apparently now facing its most challenging markets since its inception 84-years ago. The restructuring is part of the company’s efforts to bear through the tough times. For this, it also plans to reduce spends on information technology, distribution and logistics, travel and marketing and achieve an overall savings of between $50 million and $60 million.