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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. I/ F2 l3 B; f+ z4 r0 h0 z
5 H1 j2 q; O% H8 Z# s3 y, O2 `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.
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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.
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! I0 r+ o; K, u* N( o" kBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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