Hudson's Bay cuts 1,000 jobs

newlife

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.

4 s& ~; H9 ?$ Y  v! P1 T+ Z7 P0 |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 $150 million a year.
, P! ~0 U- Z" ~$ V# N7 V3 i$ i; O9 w
& f: m' D0 q# I( D0 y/ qThe 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.

* h3 |7 _# e  W7 `( hBut there could be more cost-cutting if business conditions worsen, the retailer warned.

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