Hudson's Bay cuts 1,000 jobs

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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.

# a6 W0 z& E: _! X& f) A: JHudson'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 $150 million a year.
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$ {' q  i( C7 ]7 d  E; kThe 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.

But there could be more cost-cutting if business conditions worsen, the retailer warned.

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