Following in the footsteps of competitors like Neiman Marcus Inc. and Saks Fifth Avenue, Barneys has begin its first round of layoffs. Yesterday, about 76 out of the 2,400 current jobs at the luxury store were eliminated. It's worth noting, however, that 30 out of the 76 cuts were already vacant.

Unsurprisingly, the reason behind the layoffs has something to do with this little recession we're struggling with at the moment. As Dawn Brown, vice president of publicity for Barneys, told WWD, "Initially, we elected to cut other expenses to save jobs as long as possible and now the continued economic downturn has made layoffs necessary."

Meanwhile, other major changes made by the company include allowing customers to purchase Balenciaga and Valextra handbags and shoes online. Before everything began crumbling around them, the only way one could walk away with a piece from the two pricey aforementioned labels was to navigate through all of the cold and often intimidating sales clerks inside the store. Funny how things change, no?