Canadian retailer Hudson's Bay Company (HBC) is planning to axe 2,000 jobs across North America, as part of a restructuring programme.

Including those previously announced in February, the job cuts are expected to make HBC more nimble and streamline its decision-making process.

As part of the transformation plan, two distinct leadership teams are being created for Hudson's Bay and Lord & Taylor store chains.

The company is also integrating digital functions throughout the organisation in order to develop and maximise the impact of all-channel solutions for marketing, operations and technology.

“Our team is taking the right steps to optimise our North American business and create efficiencies by leveraging the scale of our company."

HBC governor and executive chairman Richard Baker said: "We are reallocating resources to accelerate the opportunity we see online, as we run our brick and mortar operations more efficiently.

“Our team is taking the right steps to optimise our North American business and create efficiencies by leveraging the scale of our company. At this critical moment of change in the retail industry, I believe in the future of our all-channel model and we are adapting to meet the evolving needs of our customers."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Aiming to optimise operations and increase efficiencies, the restructure is expected to generate more than $350m in annual savings when fully implemented by the end of fiscal 2018.

With more than 66,000 employees, HBC currently operates more than 480 stores such as premium department stores and off-price fashion shops.


Image: A Hudson's Bay store. Photo: courtesy of Raysonho @ Open Grid Scheduler / Grid Engine.