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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.; E4 L6 d$ ~7 [/ q0 j4 N
/ B# s, X/ O3 n, ~8 [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 $150 million a year.8 G8 b- h! @# u6 s
) X. I8 E A' _( C$ rThe 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.
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; r3 U% E! p# T1 h5 G% PBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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