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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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- E- B" s9 H/ z* IHudson'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 $150 million a year.) A5 _. r8 b" a+ ?' s& B6 b
1 ?3 Y- D, t$ j( a+ bThe 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.* N: v) M; r5 p9 G
/ o/ q6 W! o6 [4 \; c0 L) `& z' QBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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