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 }4 i  Q" `' M: q8 p$ U* ~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.
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8 f. u+ G9 o& ^, Q2 n- z: J0 IThe 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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; P, k* I. n1 ?5 z) }0 e/ TBut there could be more cost-cutting if business conditions worsen, the retailer warned.

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