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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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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.- p" w. n8 \/ z. E* b8 O9 d
' W5 r+ j; s. W5 _, LThe 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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2 l2 o6 c! E# Q8 x0 K3 `. TBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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