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.
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$ L& c% ?( D* yHudson'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.

1 `# e8 t. |- L( p9 O; tThe 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.

/ w3 i1 B; s1 O' v  q8 U3 nBut there could be more cost-cutting if business conditions worsen, the retailer warned.

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