Hudson’s Bay Co. is cutting 2,000 jobs across North America to help it compete in an increasingly tough retail environment made more challenging with the rise in online shopping. Canada’s oldest retailer said Thursday the layoffs will save the company $350 million annually once the plan is fully implemented by end of fiscal 2018. The majority of the job losses will be based in the United States from the head office to the department store floor. They will also be across all banners, representing about 4 per cent of its workforce in Canada and the U.S.“We are convinced (the layoffs) won’t affect the customer in any measurable way,” CEO Jerry Storch said in an interview. “If anything, service will be better in the stores.

Source: thestar June 08, 2017 20:46 UTC