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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.
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' J; e0 Q2 V, u$ DHudson'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.+ E# I6 V: q7 p9 n, Q( Q
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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.2 @/ f9 h! S( j
# X1 ]) a+ E2 e& ^But there could be more cost-cutting if business conditions worsen, the retailer warned. |
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