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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.4 h; x) h3 Z0 M3 p1 m0 p
- N1 x" d8 }' J& i6 m/ @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 $150 million a year. F# p6 z1 Y7 |5 B
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The job cuts, effective today, are the result of a strategic decision by Hudson's Bay's new U.S. owners to combine more of its Canadian and U.S. operations to save money.
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" H: P7 p- C( P0 s; u$ _: M0 QBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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