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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.3 F% h0 T6 [% A* y
T c/ d% E( U6 P$ y0 `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./ r7 h: e0 w% w- _5 [
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The 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.% @+ f9 A- s( N3 ^3 g! E
$ `3 D9 I6 _& q) [But there could be more cost-cutting if business conditions worsen, the retailer warned. |
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