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.
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$ L3 N0 q; z' G( o5 U; R& a1 [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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3 s* i" S0 J+ \  c; m8 vThe 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.

; l$ Q$ w5 U8 C, p5 O* TBut there could be more cost-cutting if business conditions worsen, the retailer warned.

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