Hudson’s Bay Co. says it is cutting 2,000 jobs, as it streamlines North American operations.
The retailer says the cuts will result in savings of more than $350 million annually, once the transformation plan is fully implemented by the end of fiscal 2018.
The job cuts include those previously announced in February, “which will flatten the organization by removing layers to make HBC more nimble and streamline the decision making process.”
The company says savings are required to help offset revenue, margin and cost pressures the company is facing as a result of the current retail environment.
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