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Hudson’s Bay Axes 265 Jobs at Company HQ

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Canada’s Hudson’s Bay Co. (HBC) is cutting 265 jobs at its U.S. cooperate offices, one of a number of changes the retail group announced Tuesday. HBC is hoping to trim some fat as it seeks to bolster its digital business across its flagship brands. The company expects the move will save them approximately $75 million dollars during fiscal year 2016.

The company also announced the hiring of Janet Schalk as chief information officer, and Dion Rooney as executive vice-president of HBC digital. Schalk and Rooney have been brought on to implement substantial technology enhancements and help accelerate the consolidation to one common platform across the company banners.

“By enabling our teams to work smarter, faster and more effectively, we expect to achieve substantial cost savings and continue to invest in our core strategies to build our business, drive further improved financial performance and support the long-term vision of HBC,” Jerry Storch, CEO of HBC, said in a statement.

Following HBC’s acquisition of Saks Inc. in 2013, the company has hired more than 2,000 associates to assist with in-store and digital growth, and plans to open seven Saks Fifth Avenue locations and 25 Off Fifth locations in Canada during 2016.

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