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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.8 H! s' k& B9 O6 O! ~+ R! T0 _
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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.3 {. Z% `0 q1 \7 U6 L n6 v- e
/ F7 \) Z6 Y, R4 D) G0 v) PThe 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.: M R) S- [5 h8 V. U
/ X5 a- p8 s" a. nBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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