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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.9 n: P% @* U$ o! p# S
+ u0 }( x3 D, B% xHudson'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.5 \, a3 a5 D5 g/ c
/ N/ x% b' x# d X, z3 rThe 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.) V# S) Q, D; G: B. s2 r+ m
& Z! h- S& V. a6 t" cBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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