June 8, 2017 / 8:50 PM / 2 months ago

BRIEF-Hudson's Bay to cut about 2000 jobs

2 Min Read

June 8 (Reuters) - Hudson's Bay Co:

* Hudson's Bay Co - announced its transformation plan

* Hudson's Bay Co - expected to generate more than C$350 million in annual savings when fully implemented

* Hudson's Bay Co - plan includes a reduction of approximately 2,000 positions in North America to create a flatter, more nimble organization

* Hudson's Bay Co - approximately C$170 million in savings is anticipated to be realized during fiscal 2017

* Hudson's Bay Co - expects one-time charges related to this initiative of approximately C$95 million over next 12 months

* Hudson's Bay Co - within HBC's department store group (dsg), separate leadership teams have been established to run each banner independently

* Hudson's Bay Co - Alison Coville has been named president of Hudson's Bay and will have end-to-end responsibility for canadian banners

* Hudson's Bay Co - digital technology joins company's broader it organization to form HBC Technology Group

* Hudson's bay co - store operations across all of hbc's north american banners will be centralized

* Hudson's Bay Co - over next 12 months, expects to identify opportunities "to leverage size and scale of its business to generate significant savings"

* Hudson's Bay - Janis Leigh promoted to chief human resources officer; Janet Schalk, chief technology officer, will lead HBC Technology Group Source text for Eikon: Further company coverage:

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