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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. O ~- {- d3 N& n
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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 $150 million a year.2 } T/ ^) w/ j* w
! ?- { w% [3 V5 uThe job cuts, effective today, are the result of a strategic decision by Hudson's Bay's new U.S. owners to combine more of its Canadian and U.S. operations to save money.0 N! M' O8 I$ {0 W
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But there could be more cost-cutting if business conditions worsen, the retailer warned. |
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