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.
/ J/ T4 R( N9 }) Z( s4 t
0 e/ j! B$ I, Y+ I+ w( D! d6 e0 UHudson'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.

5 e# b1 d4 o: G% z: {# x/ w( FThe 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 M' `2 t, ^' eBut there could be more cost-cutting if business conditions worsen, the retailer warned.

yingxiy