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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.. H( l8 V# j( u+ L4 p2 o/ ` q5 h1 i( z
: {4 J. l! S% w' f, uHudson'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." D/ J) {4 z9 S# R
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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.' y7 k; J' z; R" _4 S. v, J
9 T U1 O2 ]7 a+ z9 h7 JBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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