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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.% j1 L: o7 \! ^' v* V& b
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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.
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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., z9 u6 E4 R, t9 }9 \* r
0 k" F N. s5 o4 OBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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