Hudson's Bay Company HBC Layoffs Job Cut: fires 1000 Canada employees: Finance Trading Times

Hudson's Bay Company HBC Layoffs Job Cut: fires 1000 Canada employees

The news is from Hudson's Bay Company HBC, which is the retail company, is reported to be going for layoffs in Canada. The news is not good for the employees of the Hudson's Bay Company HBC as the organization is going for job cuts. Now the situation is getting worse for the employees as the recession is taking a toll on all sectors and all of the sectors are feeling the heat. Hudson Bay Company HBC Logo
How many employees may be fired in the Hudson's Bay Company HBC layoffs?
As per the reports, there are going to be 1000 job cuts by Hudson's Bay Company HBC.

What is the total no. of employees of Hudson's Bay Company HBC?
The total no. of employees of Hudson's Bay Company HBC is 60,000 as of now. So the layoffs will constitute around 5% of the total employee strength.

What will be the cost and savings by Hudson's Bay Company HBC layoffs?
Around 150 million USD are expected to be saved.

When will the Hudson's Bay Company HBC layoffs happen?
No info about any dates.

Which locations and department of employees will be affected by the Hudson's Bay Company HBC layoffs ?
All layoffs will be done in Canada. The retail and administrative units will be affected the worst.

What is the primary reasons for Hudson's Bay Company HBC layoffs?
Though the company quotes the reason as restructuring - formation of Shared Services Group that would combine finance, IT, supply chain and logistics and central operations from one functional team. However, It's all about the worsening market situation, economy, declining sales and no clear site of future revival.

Any other news about Hudson's Bay Company HBC layoffs
As per AllHeadlineNews, Jeff Sherman, chief executive officer of Hudson Bay Trading Company has confirmed the development.
Let's hope that alternative jobs are available to the affected employees of Hudson's Bay Company HBC Layoffs Job Cut
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