Hudson's Bay Lays off 2,000 Across North America
By Kate Musgrove
June 9, 2017Hudson's Bay has announced that they are laying off 2,000 people across North America. The company currently employs more than 66,000 people world-wide so while the cuts are significant, they still represent less than 5% of their total workforce. Most of the jobs cut are based in the United States.
The reductions come in an effort to reduce costs and increase the company's agility. The layoffs will save the company $350 million annually (after it is fully implemented by the end of 2018).
Hudson's Bay owns Gilt Groupe, Home Outfitters, Lord & Taylor, Saks Fifth Avenue and Saks Off Fifth and Galeria Kaufhof, with hundreds of stores across Canada, the US, Belgium and Germany.
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