Neiman Marcus CEO Called 'Tone-Deaf' For Showing Off Texas Mansion

Neiman Marcus employees are upset that CEO Geoffroy van Raemdonck showed off his Dallas-area mansion while the company emerges from bankruptcy and layoffs.

PaperCity Magazine published an 11-page spread in its September issue dedicated to van Raemdonck's Italianate estate in Lakewood. The home features a grand staircase, custom made furniture, and artwork by Andy Warhol. It's valued at around $2.3 million, according to D Magazine.

The spread shows all of the comfort and wealth that comes with being the head of a Dallas-based luxury department store, but it comes at a bad time for van Raemdonk.

“He either doesn’t care or he’s tone-deaf. Everyone is wondering why (he) agreed to show off the house while health care, bankruptcy and layoffs are the main topics for Neiman Marcus," an anonymous employee told The New York Post.

Employees are sharing their gripes with the Post as they struggle amid the pandemic. "Significant" staff cuts are expected that Neiman Marcus as it comes out of a bankruptcy that eliminated $4 billion in debt, the Dallas Morning News reported.

Adding to employees' unhappiness is that they are being asked to repay insurance premiums the company picked up for employees while they were furloughed. Neiman Marcus furloughed or reduced the pay of its 14,000 employees in March.

“There’s no way people can do this. Rent is a stretch," said another unidentified employee.

During bankruptcy hearings, Neiman Marcus asked a Texas court to allow almost $10 million in pay raises for van Raemdonck and other executives, according to CBS News.

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