Hudson's Bay cuts 1,000 jobs

newlife

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.

2 F5 l' H6 h. m% }3 c2 ^# {0 bHudson'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.

- K! ?' Q: s6 GThe 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.

6 G4 e" G# t5 l/ s2 L; QBut there could be more cost-cutting if business conditions worsen, the retailer warned.

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