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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., U' f/ l' g5 |0 x, c* g& 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 $150 million a year./ |) r9 i F) i0 c. a5 X9 c; Q! ^
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The job cuts, effective today, are the result of a strategic decision by Hudson's Bay's new U.S. owners to combine more of its Canadian and U.S. operations to save money.: Z4 k$ v# o0 p/ P, }6 H
9 ~% s5 M* G9 `/ d* a" k/ ^6 GBut there could be more cost-cutting if business conditions worsen, the retailer warned. |
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