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.

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.

7 [: {3 J/ J3 P* v, n2 p8 ^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.

7 a3 |* z$ ?, Y9 y+ JBut there could be more cost-cutting if business conditions worsen, the retailer warned.

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