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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./ R7 @8 L0 f4 V0 t6 P5 ? R
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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.
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) A( y7 q/ |+ ]3 x7 e8 \The 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., V8 O& l4 t# r& {% @2 W& S6 i% M: t* v
0 W3 H2 T9 A- a. M' f0 d+ R" MBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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