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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.# N! l& l7 [, N8 N( a- G$ C' s
' B a4 E: s$ H; ]5 CHudson'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.+ E/ w. y) ^9 C) ]& o+ B
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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." o" S2 n" _: i
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But there could be more cost-cutting if business conditions worsen, the retailer warned. |
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