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Canada's largest department store chain is slashing 1,000 jobs across Canada, or 5 per cent of its full-time workforce, citing the need to cut costs.
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1 R2 H* H/ ~/ o3 ^3 {Hudson's Bay Co. said today that the job losses, which affect mainly head office staff in accounting, information technology and logistics, would help it save $150 million a year.1 ?4 K) X9 W _ p: _$ J& x
/ w2 B$ v/ G U; h. D( R+ eThe job cuts, effective today, are the result of a strategic decision by Hudson's Bay's new U.S. owners to combine more of its Canadian and U.S. operations to save money.7 h2 `* P0 n T- D2 [1 h1 v: M
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But there could be more cost-cutting if business conditions worsen, the retailer warned. |
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