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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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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 `. l8 l4 l5 a8 [" B0 y
' x# D3 J! E, F, l. Y5 ]' d9 aThe 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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7 J# B1 K6 ?% ~( w0 WBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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