Sears Canada to cut 624 jobs

Wed Jan 29, 2014 4:54pm EST
 
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(Reuters) - Struggling department store operator Sears Canada Inc (SCC.TO: Quote) said it would cut 624 jobs as it reorganizes its business.

The job cuts will primarily affect mid-tier employees within its full-line stores, resulting in an average reduction of five employees per store, the company said on Wednesday.

Sears Canada, controlled by Sears Holdings Corp (SHLD.O: Quote), said earlier in January it would cut 7 percent of its workforce.

At that time the company said it would have about 20,000 employees after the planned jobs cuts.

(Reporting By Sneha Banerjee in Bangalore; Editing by Sriraj Kalluvila)

 
People walk past the main Sears store in downtown Vancouver, British Columbia February 23, 2011. REUTERS/Andy Clark