NEW YORK — In a move that will eliminate almost 300 jobs, Saks Inc. is consolidating back-office operations of its Des Moines, Iowa-based Younkers unit into the headquarters of its Carson Pirie Scott division in Milwaukee.

Birmingham, Ala.-based Saks said the reorganization is slated for completion in the fourth fiscal quarter ending Feb. 1, 2003. Saks expects to save approximately $12 million pre-tax annually beginning in 2003, and will take approximately $10 million in after-tax charges for property write-offs and cash charges for severance pay in the fourth quarter.

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