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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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) H. N2 M% F8 S+ A0 `; GHudson'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 $150 million a year.' E6 m& ^4 b& B; S* a! @9 {8 p m$ H
) m% f+ @ G& Y8 b" 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.6 g% O$ O/ ]0 o. E$ U& j
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But there could be more cost-cutting if business conditions worsen, the retailer warned. |
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