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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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6 `: ?$ }1 a4 ~1 U* v% BHudson'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.7 a& [ n# m0 l/ V5 a* a0 B) J1 n
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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.
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6 U! _2 q8 n) v( C. e0 _& P# J% N: GBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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